Renata Annual Report 2019 2020 PDF

2019-2020
PABX : 8001450-54
Fax : 880-2-8001446
Email : [email protected]
Website : www.renata-ltd.com
Corporate Headquarters: Plot # 1, Milk Vita Road, Section-7, Mirpur, Dhaka-1216, Bangladesh
TRANSMITTAL LETTER
The Shareholders
Bangladesh Securities and Exchange Commission
Registrar of Joint Stock Companies & Firms
Dhaka Stock Exchange Ltd.
Sub: Annual Report for the year ended June 30, 2020
Dear Sir/Madam (s)
We are pleased to enclose a copy of our Annual Report and Audited Accounts
including a Statement of Financial Position, a Statement of Comprehensive
Income, and notes and annexes as needed for the year that ended June 30,
2020. We hope you enjoy reviewing the Report and seeing how Renata has
grown as a company over the past year.
Yours sincerely,
Md. Jubayer Alam

Company Secretary
October 26, 2020
RENATA LIMITED
Corporate Headquarters: Plot # 1, Milk Vita Road
Section-7, Mirpur, Dhaka-1216
October 26, 2020

NOTICE
NOTICE is hereby given that the 47th Annual General Meeting of Renata Limited will be held on
Saturday, December 19, 2020 at 11.00 am through Digital Platform (in pursuance with BSEC Order
SEC/SRMRC/04-231/25 dated 08 July 2020) to transact the following business :
AGENDA
Agenda-1: To receive, consider and adopt the Audited Accounts of the Company for the year ended
June 30, 2020 together with Reports of the Auditors and the Directors.
Agenda-2: To declare dividend for the year which ended on June 30, 2020 (See note ii).
Agenda-3: To elect Directors, in accordance with the relevant provisions of the Articles of Association of
the Company.
Agenda-4: To approve appointment of the Independent Director.
Agenda-5: To approve the related party transactions and the receivables from the subsidiaries.
Agenda-6: To appoint Auditors for the year 2020-21 and to fix their remuneration.
Agenda-7: To appoint Compliance Auditors for the year 2020-21 and to fix their remuneration.
By Order of the Board
(Md. Jubayer Alam)

Company Secretary
NOTES:
i) The ‘Record Date’ (in lieu of Book Closure) is Monday, November 16, 2020. The Shareowners whose name will appear in
the Share Register of the Company and in the Depository Register on that Date will be eligible to attend the meeting and
qualify for the Dividend to be declared at the AGM.
ii) The Directors have recommended @ 130% cash dividend for year 2019-2020 and stock dividend (bonus share) @ 10%
for the year ended June 30, 2020.
iii) A member entitled to attend and vote at the Annual General Meeting may appoint a proxy to attend and vote on his/her
behalf. The Proxy Form, duly completed, must be deposited at the Registered Office of the Company at Plot # 1, Milk Vita
Road, Section-7, Mirpur, Dhaka-1216 or sent through e-mail at [email protected] not later than 48 hours before
the time fixed for the Meeting.
iv) Members are requested to notify change of address, if any, to the Company. For BO A/C holders, the same to be rectified
through their respective Depository Participants.
v) In Compliance with the BSEC Notification No.BSEC/CMRRCD/2006-158/208/Admin/81 dated 20 June 2018, Annual Report
2019-2020 will be duly sent in soft copy to the respective shareholders e-mail addresses available in their Beneficial Owner
(BO) Accounts maintained with the DP. These will also be available in Company’s website: www.renata-ltd.com
vi) Full login/participation process Digital Platform Meeting will also be available in the Company’s website: www.renata-ltd.com
vii) For any IT related guidance in this regard Members may contact cell number 01811-415502
ANNUAL
GENERAL MEETING
2018-2019
Table of Contents
1 Company Profile
3 Our Values
4 Our Mission and Vision
7 Chairman’s Statement
11 Board of Directors
16 Corporate Governance
17 Directors’ Report
39 Financial Highlights
40 Financial Trend
41 Statement of Value Addition
42 Corporate Social Responsibility
45 Product Portfolio
Financial Statements of Renata Limited
58 Auditors’ Report
69 Statement of Financial Position
70 Statement of Profit or Loss and Other Comprehensive Income
71 Statement of Changes in Equity
72 Cash Flow Statement
73 Notes to the Financial Statements
Report and Financial Statements of Renata Agro Industries Limited
108 Statement of Profit or Loss and other Comprehensive Income

Report and Financial Statements of Purnava Limited
130 Statement of Comprehensive Income
Renata (UK) Limited & Renata Pharmaceutical (Ireland) Limited
141 Renata (UK) Limited & Renata Pharmaceutical (Ireland) Limited
Consolidated Financial Statements of Renata Limited and its Subsidiaries

153 Statement of Profit or Loss and Other Comprehensive Income
185 Corporate Directory
187 Proxy Form

Year of Incorporation
1972 as Pfizer Laboratories (Bangladesh) Limited,
subsidiary of Pfizer Corporation, USA
Change of Name
1993 Renamed as Renata Limited after divestment of
shareholdings by Pfizer Corporation, USA
Field of Business
Manufacturing, Marketing & Distribution of Human Pharmaceuticals,
Animal Health Medicines, Nutritionals, and Vaccines
Contract Manufacturing
General products for UNICEF and SMC
MHRA Certificate
Medicines and Healthcare products Regulatory Agency, UK
has issued a Certificate of GMP Compliance of a Manufacturer
to Renata Limited for our Potent Products Facility at section 7, Mirpur, Dhaka &
Rajendrapur General Facility, Rajendrapur, Gazipur, Bangladesh
Marketing & Distribution Rights

• Evans Vanodine International (UK): Animal farm disinfectants
• Zinpro Corporation (USA)
• Biomin Holding GmbH (Austria): Animal nutritional products
• Elanco(New Zealand): Animal health products
• Novus (USA): Animal health products
• Indian Herbs Overseas
• Natural Herbs Ltd., India
• Syva, Spain
• Huve Pharma, SEA, Bulgeria
• Vaxxinova International BV, Netherland
• Intron Life Sciences, Thailand
• Carus Laboratories Pte. Ltd., India
Investment in Subsidiaries
• 99.99% Shareholding in Renata Agro Industries Limited
• 99.99% Shareholding in Purnava Limited
• 100% Shareholding in Renata (UK) Limited
• 100% Shareholding in Renata Pharmaceuticals (Ireland) Limited
•1
Kashor Herbal Facility, Kashor
Hobirbari, Bhaluka, Mymensingh
Agrani Bank Limited

Bangladesh Commerce Bank Limited
Bank Asia Limited
Brac Bank Limited
Commercial Bank of Ceylon
Citibank, N.A.
Eastern Bank Limited
Standard Chartered Bank
Sonali Bank Limited
The City Bank Limited
United Commercial Bank Limited
ACNABIN, Chartered Accountants
Vertex Chambers
Hoque & Associates
2 •renata annual report

Customer Focus
Customer satisfaction is the main
reason behind all our activities.
Integrity
We conform to the highest
ethical standards.
Social Responsibility
We make active efforts to improve
the welfare of our community.
Building Leaders
Renata cannot grow without
leadership in all spheres of our
activities. Therefore creating
leaders is a key priority.
The Corporate Family

We recognise that people are the
cornerstone of Renata’s success.
We are one big family where each
of us expects to be treated fairly
and with dignity.
•3
Our
Mission
To provide maximum
value to our customers,
and communities where
we live and work.
Approach
to Quality
The endurance of a company’s
reputation depends upon the
quality of work it does rather
than the quantity. Hence, the
appreciation of quality must be
instinctive, and our commitment
to quality must be total.
Our Vision
To establish Renata permanently
among the best of innovative
branded generic companies.

Renata Limited for being recognized in credit rating as a
A A A
RATED COMPANY
ICMAB BEST CORPORATE AWARD-2018 TAX PAYER AWARD AMONG

PHARMACEUTICAL & CHEMICAL INDUSTRY
•5
Chairman’s Statement
Welcome to the 47th Annual General Meeting of Renata Limited. closed down leading to a drastic fall in
the provision of healthcare.
We express our sincere condolences for the families of Covid-19 victims. May they find
strength during these hard times. In the smaller towns and rural areas,
during the first few months of the
This was an abnormal year due the Pandemic. Nevertheless, Company emerged relatively Pandemic, the bulk of patient needs
unscathed from the first wave of the Pandemic which affected the last two quarters of the were addressed by doctors located
fiscal year. Net profit and Net Sales grew by 8.0% and 8.7% respectively. While these results within chemist shops, known as
are not in line with the historical performance of the Company, the dramatic fall in economic dispensing general practitioners.
activity during the fourth quarter weighed heavily on our overall performance.
Some pharmaceutical companies
Contrary to popular belief, pharmaceutical markets in many parts of the world have actually encouraged doctors to switch to online
been quite depressed during this pandemic. The reason is obvious: People have been wary medical practice. While there were
of contagion-risk at hospitals, clinics, and private chambers. The reduced patient flow some takers, the overall response to
ironically reflects unmet healthcare needs. digital healthcare was disappointing.
In fact, healthcare providers themselves have discouraged patient visits. For example, the The overall impact of the Pandemic on
NHS in the UK asked patients not to visit their general practitioners unless absolutely the pharmaceutical industry can be
essential. surmised from Table No. 1.
Hong Kong, one of the early victims of the Pandemic experienced a sharp downturn in Essentially, Table No. 1 looks at what
patient numbers. Even much needed diagnostics or surgical interventions were postponed. the retail pharmaceutical market
would have been if it followed the
An article in the Lancet, drawing on public health data from India, reported that there had five-year growth trend versus what
been alarming reductions in essential public health and clinical interventions. Specifically, a actually transpired. The difference is
69% reduction in measles, mumps, and rubella vaccination in children, a 21% reduction in attributed to the Pandemic. It is a
institutional deliveries, a 50% reduction in clinic attendance for acute cardiac events and, somewhat simplistic analysis, but it
surprisingly, a 32% fall in inpatient care for pulmonary conditions in March, 2020, compared does show that that Pandemic has
with March, 2019. had a depressing effect on the market.
The Bangladesh pharmaceutical market is overwhelmingly reliant on the private practice of Medicine prices remained stable and
doctors. As soon as the Covid-19 numbers began rising, most chambers in the large cities affordable even though raw material
prices rose sharply during the first few
months of the pandemic. In particular,
Effect of the Pandemic on the Retail Pharmaceutical Table No. 1 a strict lockdown in India halted the
Market in Taka (Crores) shipment of basic chemicals, leading
to supply shortages. Locally, the small
Estimated packaging industries shut down their
Actual Market Actual operations which caused severe
Growth on Year Market disruptions in the supply chain for the
Year Ending Year Estimated pharmaceutical industry.
Ending June 2020 Ending Impact
5-Year June based on June of Apart from a few exceptions, key
CAGR 2020 CAGR 2020 Pandemic medicines continued to be available
Alimentary Track & Metabolism 18% 7% 9,641 8,731 (910) even though the social-distancing
Blood and Blood forming Organs 22% 6% 658 574 (85) imperative led to new challenges in
Cardiovascular System 19% 13% 2,786 2,628 (158) manufacturing.
Dermatologicals 15% 9% 577 546 (30)
GU System and Sex Hormones 19% 5% 856 757 (100) Renata implemented strict hygiene
Systemic Hormones 17% -1% 301 253 (47) protocols beginning early March. In
Systemic Anti-Infectives 13% -7% 3,993 3,294 (699) manufacturing, we placed special
Hospital Solutions 2% -8% 143 128 (14) emphasis on social-distancing. In this
Antineoplast + Immunomudulators 18% 7% 78 71 (7) regard, work timings were extended
Musco-Skeletal System 14% -2% 1,287 1,098 (190) and re-organized to lower the
Nervous System 16% 5% 2,653 2,403 (250) worker-density at any given time.
Parasitology 7% -1% 159 147 (12) Moreover, extra makeshift canteens
Respiratory System 19% 9% 2,495 2,290 (204) were opened up at all manufacturing
Sensory Organs 15% -6% 372 305 (66) sites. The standard-operating-
Diagnostic Agents 37% -3% 1 0 (0) procedure (SOP) adopted by Renata
Various 29% -3% 81 61 (20) for prevention of Covid-19 can be
found here:
TOTAL RETAIL MARKET 17% 4% 26,081 23,287 (2,794)
https://renata-ltd.com/featured-news/
IMS DATA
sop-for-covid-19-prevention-version-3-0/
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Unfortunately, the highly contagious nature of the disease, First, the Pandemic has largely been an urban phenomenon,
our safety protocols were not enough to avoid infection. whereas most farms are located in rural areas.
Table No. 2 shows the number of employees affected due to
Covid-19. Second, while reduced aggregate demand led to cutbacks in animal
husbandry, the impact on the animal health industry was different
Covid-19 at Renata Table No. 2 for domestic producers and importers. So, for example, while
weekly broiler day-old-chick (DOC) production fell from a peak of
Infections Deaths 1.8 crores to only 1.2 crores, the brunt of this fall in production was
March 2 borne by traders who import medicines from Covid-19 affected
April 2 countries. In contrast, domestic producers that had adequate stock
May 24 of raw materials were able to make further inroads into the market
June 56 due to reduced competition from imported products.
July 27
For these two reasons, our Animal Health business continued to do
August 18 1
well, even during these difficult times.
September 15
TOTAL 144 1 I now take a very brief look at our constituent businesses.
The tragic loss of one life was that of a long-term consultant. Animal Health: Our growth was 18% compared to the
The remainder of the infected employees are doing well. So market-growth of 15%. We continued to consolidate our position as
far, the cure rate is near 100%. market-leader.
I am pleased note that our manufacturing facility for nutritional

At this point, I ought to pay tribute to the dedicated team at
products is now complete. We are hopeful that the state-of-the-art
Renata. Being a vital part of the healthcare, the core
Kashor Nutrition Facility (KNF) shall attract new customers,
principle driving our activities is saving lives. So, just as
especially those who prefer imported products for perceptions of
doctors, nurses, ambulance staff, and a myriad of healthcare
quality.
professionals cannot abandon their duties during a
pandemic, neither can we. Our team has carried out their Pharmaceutical: The paltry industry growth of 4% was essentially
responsibilities risking infection. We applaud their heroism. associated with the management of Covid-19, viz., Ivermectin,
Rivaroxaban, Favipiravir, Vitamin C, Vitamin-D, Vitamin-B
Apart from our daily business, through partnership with Complex, Paracetamol, Doxycycline, Azithromycin, ORS, and so
Sajida Foundation, we have directly reached out to victims of on. Moreover, these products were sold to mainly to Dispensing
the Pandemic. We have donated generously for the General Practitioners (DGPs) at heavily discounted prices and a
treatment of Covid-19 patients. We also hope to work with variety of trade offers.
Sajida in setting up a Covid-19 testing laboratory. In addition,
our engineering team had been actively involved in building While our growth of 8% was also poor at this time, we made a
ventilators, High-flow Nasal Canula, and handwashing conscious effort to cut back on marketing expenditures to protect
stations. profits. Compared to earlier years, our marketing expenditure was
considerably lower.
During the first few months of the Pandemic, Clinical
Research Organisations (CROs) were closed throughout the We retained our rank of no. 4 in terms of sales.
world. As such, our R&D activities suffered considerably. As
many as 12 bio-equivalent studies had to be postponed. As I mentioned last year, we have directed special efforts to grow
Fortunately, CRO activities resumed from September 2020, our chronic care portfolio. I am pleased to report that we are making
putting our R&D endeavours back on track. excellent progress in this area.
Activities at regulatory authorities such as MHRA and Contract-Manufacturing: This growing segment of our core
USFDA also slowed down considerably. As a result, new business was unscathed by the Pandemic. Significantly, the
registrations by Renata have suffered considerably. During Government has now included third-generation birth control pills in
the entire fiscal year, we managed only one new registration its Family Planning Programme. We hope to win a sizeable portion
in the US. However, it is noteworthy that we filed a NCE-1 in of this business.
the US, which brings our total first-to-file (FTF) molecules to
two. Table No. 3 shows the registrations/filings during Outlook for 2021: Our sales growth has been at a near-normal rate
2019-2020 since August 2020. This is because doctors returned to their
practice after a hiatus of nearly four months. In essence, the outlook
Table No. 3 for 2021 remains highly dependent on the continuing severity of the
Pandemic. Moreover, one has to accept that living with Covid-19
Registration Status Country might become a reality for the next few years. So, rather than trying
to predicting the future in the short-run, we ought to remain focused
Rosuvastatin Calcium Approved USA on our long-term goals. This focus means investing heavily in
Tablets 5/10/15/20 mg people, factories, and R&D, so that when life becomes normal, we
make an increasing contribution towards making life worth living.
Name withheld ANDA under
Injection Assessment USA
The Pandemic also affected animal husbandry which in turn Dr. Sarwar Ali
impacted the Animal Health Industry. However, the effect Chairman
was less severe on the domestic industry for two reasons: October 26, 2020

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Dr. Sarwar Ali, Chairman
Current Responsibilities
Chairman, Board of Directors, Renata Limited
Trustee, Liberation War Museum
Executive President, Chhayanaut
Chairman, Board of Management, BIRDEM Hospital
Vice President, Bangladesh Diabetic Association
Past Responsibilities
Director, Renata Limited
Managing Director, Renata Limited
Medical Director, Pfizer (Bangladesh) Limited
President Bangladesh Employers’ Federation
International Councilor of IPPNW
Secretary General, Bangladesh Medical Association
Member, Dhaka University Senate
Education
MBBS, Dhaka Medical College
Kaiser Kabir, CEO & Managing Director

CEO & Managing Director, Renata Limited
Chairman, Renata Agro Industries Limited
Chairman, Purnava Limited
Member, Sajida Foundation
Director, BRAC Bank Limited
Board Member, BRAC
Board of Directors, GAIN
Member, Finance & Audit Committee
Member, Nominations Committee
Managing Director, BRAC-Renata Agro Industries Limited
Executive Director, Sajida Foundation
National Macroeconomist, Financial Sector Reform Project
Consultant, The World Bank, RMB
Vice President, Bangladesh Association of Pharmaceutical Industries
Research Officer, Institute of Economics & Statistics, University of Oxford
Education
MPhil in Economics, University of Oxford, UK
Postgraduate Diploma in Economics with Distinction,
University of East Anglia, UK
Bachelor of Arts in Economics and International Relations,
Claremont McKenna College, USA
•11
Zahida Fizza Kabir, Director
CEO, Sajida Foundation
Board Member, Action Aid Bangladesh
Chairperson, Psychological Health & Wellness Clinic Ltd.
Managing Director, Home and Community Care and Inner Circle
Private Limited
Exceutive Director, Sajida Foundation
Director of Programs, Sajida Foundation
Senior Program Officer, Sajida Foundation
Education
Masters Degree in International and Intercultural Management,
School for International Training, Vermont, USA
Bachelor’s Degree in Social Work,
University of the Philippines
Post graduate diploma on “Organizational leadership”,
Said Business School, University of Oxford
Sajeda Farisa Kabir, Director

Safeguarding and External Relations Consultant, Sajida Foundation
Counsel Barrister, Temple Court Chambers Dhaka Annexe, Dhaka,
Bangladesh
Associate Director, Human Rights and Legal Services Program, BRAC
Senior Regional Manager, Human Rights and Legal Services Program,
BRAC
Founding Partner, Vertex Chambers, Dhaka, Bangladesh
Education
Post Graduate Diploma in Professional Legal Skills, City University,
London, UK
LLB (Honours), Cardiff Law School, University of Wales, UK
Professional Qualifications
Barrister (of Lincoln’s Inn), UK
Advocate, Supreme Court of Bangladesh
Lawyer (New South Wales), Australia

Mridul Chowdhury, Director
Founder and CEO, mPower Social Enterprises Limited
Co-Founder and Chairperson, Jeeon Limited
Co-Founder and Chairperson, TraumaLink
Founder and CEO, ClickDiagonistics, Inc., USA
ICT4D Consultant, UNDP, Bangladesh
Executive Director, Development Research Network (D.Net), Bangladesh
ICT Consultant, Bangladesh Enterprise Institute, Bangladesh
e-Governance Consultant, Ministry of Planning, Government of
Bangladesh
Education
MPA in International Development, Development Economics – Kennedy
School of Government, Harvard University, USA
BA in Economics, Mathematics, Political Science – The University of
Texas at Austin, USA
Executive Education in Social Entrepreneurship – Stanford University,
USA
Executive Education in Social Entrepreneurship – INSEAD Business
School, France
Tanya Tazeen Karim, Independent Director

Architect Partner, Tanya Karim NR Khan & Associates
Member, Bangladesh Womens’ Chamber of Commerce &
Industry(BWCCI)
Director, Vantage Engineering & Construction Ltd.
Managing Director, Urban Bangla Ltd.
Visiting Lecturer, Adjunct Faculty,University of Asia Pacific
Member, Women Architects, Engineers,Planners
Association(WAEPA)
Board Member, Bangladesh Womens’ Chamber of Commerce &
Industry(BWCCI)
EC Member: Women Architects, Engineers,Planners
Association(WAEPA)
Board Member & Member of Development Committee of Presidency
University Foundation.
Founder Member, UW2SDA (Urban Water, Wastelands Society &
Design Alliance), presently ISUS (Institute for Sustainable Urban
Studies)also attached to the ‘Swaraswati Program’ for exchange
program of Environmental Expertise among selected universities of
USA, India and Bangladesh.
Education
B. Arch from Bangladesh University of
Engineering & Technology(BUET) Management
Course for Women Entrepreneurs from IBA
•13
Nehal Ahmed, Independent Director
Director, A-CUBED PTE Ltd., Singapore
Advisor, SHEBA.XYZ
Advisor, Amartaka.com
Advisor, Xenious International (Pvt) Ltd.
Senior Director (Head of Communications), Grameenphone
Director (Marketing), Grameenphone
Executive Vice President, Robi Axiata Limited
Chief Marketing Officer, AUGERE Wireless Broadband Bangladesh
Limited (QUBEE)
Global Marketing Manager, BACARDI Global Brands Ltd., London, UK
European Brand Director, MARS Snackfoods Europe, Slough, UK
Global Marketing Manager, MARS Drinks Global, Basingstoke, UK
International Brand Marketing Manager, British American Tobacco PLC,
London, UK
Group Brand Manager, British American Tobacco Bangladesh Ltd.,
Education
Innovation – Strategy to Execution, INSEAD Business School, Singapore
Strategic Marketing Program, London Business School (LBS), London
Bachelor of Science in Industrial Engineering and Operations,
The University of Massachusetts, USA
Ejaj Ahmad, Independent Director

President and Founder, Bangladesh Youth Leadership Center
Global Council Member, Asia Society, USA
Global Network Council Member, Eisenhower Fellowships, USA
Ashoka Fellow, USA
Honorary Teaching Fellow, School of Management, University of St
Andrews
Principal Consultant, National Youth Policy 2017; appointed by
Bangladesh Government and Commonwealth Secretariat in London
Economist, Unnayan Shammunay; served as researcher in World
Bank/Ministry of Commerce funded Bangladesh Export Diversification
Project and as assistant technical editor in UNDP funded People’s
Report on Bangladesh Environment
Education
Master in Public Policy, Harvard University, USA
MA (Hons) in Economics, University of St. Andrews, Scotland
Executive Education in Venture Capital, University of
Pennsylvania, USA
Executive Education in Art and Practice of Leadership Development,
Harvard University, USA

Md. Jubayer Alam, Company Secretary
Company Secretary, Renata Limited
Director, Renata Agro Industries Limited
Human Resources Manager, Renata Limited
Training Manager, Renata Limited
Regional Sales Manager, Novartis (BD) Limited
Education
LLB from Atish Dipankar University of Science and Technology
MBA (Major in HRM) from Stamford University
MBA (Major in Marketing) from Stamford University
Masters in Psychology from University of Dhaka
THE AUDIT COMMITTEE

Mr. Nehal Ahmed - Independent Director • Chairman, Audit Committee
Mrs. Tanya Tazeen Karim - Director • Member, Audit Committee
Mr. Mridul Chowdhury - Director • Member, Audit Committee
Mr. Kaiser Kabir - CEO & Managing Director • Member ( up to 13.06.2020)
•15
Director, Manufacturing
Director, Sales Pharma
Director, Animal Health
General Manager, Marketing Pharmaceutical
General Manager, International Regulatory Affairs
General Manager, Finance
General Manager, Vaccines & Specialty Care Business
General Manager, Projects
General Manager, International & Institutional Business
Heads of Quality Assurance
Head of Information Technology
Head of Human Resources Division

•17
TO THE MEMBERS
The Directors of Renata Limited are pleased to present their Annual Report along with the Audited Financial Statements
of the Company for the year which ended on June 30, 2020.
BUSINESS ACTIVITIES
Turnover during 2019-20 was Taka 24,164.0 million registering a growth of 8.7% over last year’s turnover of Taka
22,220.8 million. Profit after tax was Taka 4,129.5 million – a growth of 8.0%. Earnings per Share (EPS) stood at Taka
46.62 against Taka 43.16 of 2018-19.
NEW PHARMACEUTICAL PRODUCTS

Renata introduced 18 new formulations during the year 2019-20
Sl. Brand Name Generic Division Developed by

1 Coralcin-D Tablet Calcium (coral source) & Vitamin D3 Pharmaceutical Renata
2 Tyrokin 100mg Tablet Imatinib Pharmaceutical Renata
3 Calcefer Effervescent Tablet Calcium Lactate Gulconate + Pharmaceutical Renata
Calcium Carbonate + Ascorbic Acid
4 Pulmino 200 mg Tablet Doxofylline Pharmaceutical Renata
5 Stark 10mg Tablet Rupatadine Pharmaceutical Renata
6 Magsum 5ml Injection Magsum Sulphate Pharmaceutical Renata
7 Alphapress XR 2.5mg Tablet Prazosin Pharmaceutical Renata
8 Alphapress XR 5mg Tablet Prazosin Pharmaceutical Renata
9 Calcin-O Kit Ibandronic Acid + Calcium Orotate Pharmaceutical Renata
10 Trizedon MR 35 mg Tablet Trimetazidine Dihydrochloride Pharmaceutical Renata
11 Ledomide 10mg Capsule Lenaledomide Pharmaceutical Renata
12 Ledomide 25 mg Capsule Lenaledomide Pharmaceutical Renata
13 Cartilage Max Tablet Glucosamine & Diacerein Pharmaceutical Renata
14 Microgest 400mg Vaginal Pessary Natural Micronized Progesterone Pharmaceutical Renata
15 Myco-Out 100g Erythromicin Estolate USP + Neomycin Sulphate USP Animal Health Renata
+ Sulphadimidine Sodium BP +Trimethoprim USP+
Bromhexine Hydrochloride
16 Rena Cal-P Powder Calcium Phosphate + Monosodium Phosphate + Animal Health Renata
Vitamin C + Vitamin B12 + Vitamin D3 +
Disodium Citrate
17 Izovac H 120 Clone Live Attenuated NDV & Live Attenuated IBV Animal Health IZO SRL a Socio Unico, Italy
18 Izovac ND-IBD Inactivated NDB & Inactivated IBDB Animal Health IZO SRL a Socio Unico, Italy
CAPITAL EXPENDITURE
The following capital expenditure made by the Company during the year amounted to Taka 2,492.6 million.
Taka in millions
2019-20
Freehold Land 357.2

Building 945.4
Plant and Machinery 913.7
Automobile 101.8
Office Equipment, Furniture & Fixtures and others 174.5
Total 2,492.6
The investments were funded from internally generated cash and bank loans.

DIVIDEND
While there is reasonable profit available
for distribution, the investment pipeline is
also rich. Hence the Directors deem it
necessary to retain adequate funds to Financial Results
finance the capital expenditures for The Directors take pleasure in reporting the following financial
capacity building to sustain the growth of results of the Company for the year 2019-20
the company.
The Board of Directors is pleased to 2019-20 2018-19

recommend a cash dividend of Taka 13 per Taka Taka
ordinary share of Taka 10 each. This Profit before tax 5,992,007,966 5,213,777,207
dividend will entail a payment of Taka
Less: Provision for tax 1,862,412,163 1,390,415,077
1,151,660,146. The Board of Directors also
Net Profit after tax 4,129,595,803 3,823,362,130
recommend for declaration of Stock
Add/(Less) Other comprehensive income (26,666,085) (627,520)
Dividend (Bonus Shares) in the ratio of one
Total Comprehensive income 4,102,929,718 3,822,734,610
Bonus Share for every 10 shares held for
which an amount of Taka 88,589,242 will Add: Unappropriated profit brought forward 16,439,182,863 13,501,704,788
have to be transferred to Share Capital Add: Depreciation of revaluation surplus 635,885 635,885
Account. Less: Adjustment for merger
of Renata Oncology (43,065,634) -
20,499,682,832 17,325,075,283
CONTRIBUTION TO
NATIONAL
APPROPRIATION RECOMMENDED
EXCHEQUER Dividend proposed:
During the year under review Renata paid

Taka 5,499 million to the National a) Cash dividend @ 13 Taka per share 1,151,660,146 805,356,750
Exchequer in the form of Corporate Income
Tax, Import Duties and Value Added Tax b) Stock dividend (Bonus Share) in the ratio
(VAT) of one bonus share for every 10 shares
held (10 :1B) 88,589,242 80,535,675
1,240,249,388 885,892,425
DIRECTORS Balance of unappropriated profit carried
According to the provisions of Article 105 of Forward 19,259,433,444 16,439,182,858
the Articles of Association of the Company, 20,499,682,832 17,325,075,283
Mr. Mridul Chowdhury and Mrs. Tanya
Tazeen Karim, retires at the 47th Annual
General Meeting and being eligible offer
themself for re-election
The Directors retiring by rotation under Articles 109, 115 and 116 of the Articles of Association of the Company
Dr. Sarwar Ali have been longest in office since election, and constitute one-third of the Directors who retire by rotation,
being eligible offer himself for re-election.
APPOINTMENT OF STATUTORY AUDITORS

The Company’s existing Auditor Messrs ACNABIN, Chartered Accountants retire at the 47thAnnual General Meeting and
being eligible offer themselves for reappointment as auditor for the year 2020-21 with re-fixation of their remuneration.
The Audit Committee and Board recommends Auditor’s remuneration BDT 9,00,000 (nine lacs) only by enhancing BDT
50,000 to previous year remuneration subject to the approval of the shareholders in the 47th AGM of the Company,
CONSOLIDATION OF ACCOUNTS
The Company is consistently following the Code of International Financial Reporting Standard as adopted by the
Institute of Chartered Accountants of Bangladesh. According to International Financial Reporting Standard-10,
(IFRS-10) the Company has presented all the relevant consolidated financial statements with those of its subsidiaries.
RELATED PARTY TRANSACTIONS

The Company carried out a number of transactions with related parties in the normal course of business. Details of the
related party transactions are disclosed in Note No. 41 of the financial statements.
•19
REMUNERATION PAID TO THE DIRECTORS
During the year, the Company has paid BDT 2,40,000 as Board Meeting attendance fees and BDT 60,000 for Audit
Committee Meeting attendance fees. The remuneration of the Directors has been mentioned in Note 34 of the financial
statement.
ADDITIONAL STATEMENT
The Directors are pleased to make the following additional statements in respect of the Report prepared under section
184 of the Companies Act 1994.
We report, 2. Mr. Syed S. Kaiser Kabir 6 times

Managing Director
a) The financial statements prepared by the
management for the year 2019-20 give a true and 3. Mrs. Zahida Fizza Kabir 5 times
fair view of the state of company about the results of Director
its operations, cash flows and changes in equity.
4. Mrs. Sajeda Farisa Kabir 5 times
b) Proper books of accounts have been maintained by Director
the company as required by applicable Laws, Rules
and Standard. 5. Mr. A. Hasanat Khan (up to 21.12.2019) 4 times
Director
c) Appropriate accounting policies have been
6. Mr. Md. Abul Hossain (up to 28.01.2020) 2 times
consistently applied in preparation of the financial
Director
statements and that accounting estimates are
based on reasonable and prudent judgments. 7. Mr. Mridul Chowdhury (from 28.01.2020) 1 time
Director
d) In preparation of the financial statement, the
International Accounting Standard, as applicable in 8. Mrs. Tanya Tazeen Karim 5 times
Bangladesh has been followed and there has been Director
no departure from the policies.
9. Mr. Nehal Ahmed 5 times
e) The system of internal control and internal check Independent Director
are in effect and monitored properly.
10. Mr. Ejaj Ahmad (from 13.06.2020) 0 time
f) The company has sound and strong operational Independent Director
strengths and ability to continue as a going
concern. As such, there is no doubt of its continuity. Audit Committee Meeting:
1. Mr. Nehal Ahmed 4 times
g) There is no significant deviation from last year in Chairman
operating results.
2. Mrs. Tanya Tazeen Karim 4 times
h) The key operating and financial data for preceding Member
five years have been shown in the Financial
Highlights. 3. Mr. Syed S. Kaiser Kabir (up to 13.06.2020) 5 times
Member
i) The Directors, have recommended cash dividend
of Taka 13.00 per share of Taka 10 each and Stock 4. Mr. Mridul Chowdhury (from 13.06.2020) 0 time
dividend (bonus share) in the ratio of one share for Member
every 10 shares are held
NRC Committee Meeting:
j) During the year six board meeting, five audit 1. Mr. Nehal Ahmed 2 times
committee meeting and two NRC meeting were Chairman
held and the attendance by each Director are given
below: 2. Mrs. Tanya Tazeen Karim 1 times
Member
Board Meeting:
1. Dr. Sarwar Ali 6 times 3. Mrs.Zahida Fizza Kabir
Chairman of the Board Member 2 times

k) The pattern of Shareholding vii) Shareholders holding 10% or more voting interest:
Sajida Foundation 45,180,129
(i) Parent/ Subsidiary / Associated companies: Business Research International Corp. 19,262,801
The Shareholding information as on 30th June 2020

and other related information are set out in note- 7. STATUS OF COMPLIANCE:
Compliance status of the condition imposed by the
(ii) Directors Name No. of Shares commission’s Notification No. BSEC/CMRRCD/2006-
Dr. Sarwar Ali 4,897 158/207/Admin/80, dated 03 June, 2018 issued under
Mr. Syed S. Kaiser Kabir 114,486 section 2CC of the Securities Exchange Ordinance, 1969
Mrs. Zahida Fizza Kabir 25,720 is shown in Annexure-C.
Mrs. Sajeda Farisa Kabir 12,883
Mr. Mridul Chowdhury
Mrs. Tanya Tazeen Karim
-
-
PERSONNEL
The Directors record their appreciation for the
Mr. Nehal Ahmed -
contribution made by the employees for their efforts.
Mr. Ejaj Ahmed 2370
(iii) Company Secretary

Mr. Jubayer Alam 2,213
ACKNOWLEDGEMENT
The Board wishes to thank the Shareholders, Officials of
the Drug Administration and other Government officials,
Doctors, Chemists, Medical Institutions, Bankers, the
(iv) Chief Financial Officer (CFO) Securities and Exchange Commission, the Dhaka Stock
Mr. Khokan Chandra Das 2,683 Exchange Limited and all our well-wishers for their
continued support.
(v) Head of Internal Audit
Mr. ATM Muniruzzaman 243 On behalf of the Board of Directors
(vi) Executives:
Mr. Halimusshan 0
Dr. Sayma Ali 16,505
Dr. Sarwar Ali
Mr. Monowarul Islam 2,055 Chairman
Mr. Sirajul Hoque 9,000 October 26, 2020
Mr. Zaki Chowdhury 0
•21
ANNEXURE-A
[(As per condition No. 1(5)(xxvi)]
The CEO and CFO’s certification to the Board
October 26, 2020
The Board of Directors

Renata Limited
Subject: Declaration on Financial Statements for the year ended on June 30, 2020
Dear Sirs,
Pursuant to the condition No. 1(5)(xxvi) imposed vide the Commission’s Notification No.
BSEC/CMRRCD/2006-158/207/Admin/80 Dated June 3, 2018 under section 2CC of the
Securities and Exchange Ordinance, 1969, we do hereby declare that:
(1) The Financial Statements of Renata Limited for the year ended on June 30,
2020 have been prepared in compliance with International Accounting
Standards (IAS) or International Financial Reporting Standards (IFRS), as
applicable in the Bangladesh and any departure there from has been adequately
disclosed;
(2) The estimates and judgments related to the financial statements were made on a
prudent and reasonable basis, in order for the financial statements to reveal a true
and fair view;
(3) The form and substance of transactions and the Company’s state of affairs have
been reasonably and fairly presented in its financial statements;

(4) To ensure above, the Company has taken proper and adequate care in installing a
system of internal control and maintenance of accounting records;
(5) Our internal auditors have conducted periodic audits to provide reasonable assurance
that the established policies and procedures of the Company were consistently
followed ; and
(6) The management’s use of the going concern basis of accounting in preparing the
financial statements is appropriate and there exists no material uncertainty related to
events or conditions that may cast significant doubt on the Company’s ability to
continue as a going concern.
In this regard, we also certify that:-
(i) We have reviewed the financial statements for the year ended on June 30, 2020 and
that to the best of our knowledge and belief:
(a) these statements do not contain any materially untrue statement or omit any
material fact or contain statements that might be misleading;
(b) these statements collectively present true and fair view of the Company’s affairs
and are in compliance with existing accounting standards and applicable laws.
(ii) There are, to the best of knowledge and belief, no transactions entered into by the
Company during the year which are fraudulent, illegal or in violation of the code of
conduct for the company’s Board of Directors or its members.
Sincerely yours,
Syed S. Kaiser Kabir Khokan Chandra Das

CEO & Managing Director Chief Financial Officer
October 26, 2020 October 26, 2020
•23
ANNEXURE-B
[(Certificate as per condition No. 1(5)(xxvii)]

ANNEXURE-C
[(As per condition No. 1(5)(xxvii)]
STATUS OF COMPLIANCE
OF THE CORPORATE GOVERNANCE GUIDELINE (CGG), 2018
Status of compliance with the conditions imposed by the Commission's Notification No. BSEC/CMRRCD/2006-158/207/
Admin/80, dated 03 June, 2018 issued under section 2CC of the Securities and Exchange Ordinance, 1969:
(Report under Condition No. 9.00)
Compliance Status (Put √

Condition Remarks (if any)
Title in the appropriate column)
No.
Complied Not Complied
1 Board of Directors
1(1) Size of the Board of Directors
The total number of members of a company’s Board of Directors (hereinafter referred
√ - -
to as "Board") shall not to be less than 5 (five) and more than 20 (twenty).
1(2) Independent Directors
At least one fifth (1/5) of the total number of directors in the company's board shall
1(2)(a) be independent directors; any fraction shall be considered to the next integer or whole √ - -
number for calculating number of independent director(s);
Who either does not hold any share in the company or holds less than one percent
1(2)(b)(i) √ - -
(1%) shares of the total paid-up shares of the company;
Who is not a sponsor of the company and is not connected with the company’s any
sponsor or director or nominated director or shareholder of the company or any of its
asscoiates, sister concerns, subsidiaries and parents or holding entities who holds
1(2)(b)(ii) √ - -
one percent (1%) or more shares of the total paid-up shares of the company on the
basis of family relationship and his or her family members also shall not hold above
mentioned shares in the company:
Who has not been an executive of the company in immediately preceding 2 (two)
1(2)(b)(iii) √ - -
financial years;
Who does not have any other relationship, whether pecuniary or otherwise, with the
1(2)(b)(iv) √ - -
company or its subsidiary or associated companies;
Who is not a member or TREC (Trading Right Entitlement Certificate) holder, director,
1(2)(b)(v) √ - -
or officer of any stock exchange;
Who is not a shareholder, director excepting independent direct or officer of any
1(2)(b)(vi) √ - -
member or TREC holder of stock exchange or an intermediary of the capital market;
Who is not a partner or an executive or was not a partner or an executive during the
preceding 3 (three) years of the concerned company's statutory audit firm or audit
1(2)(b)(vii) √ - -
firm engaged in internal audit services or audit firm conducting special audit or
professional certifying compliance of this Code;
1(2)(b)(viii) Who is not an independent director in more than 5 (five) listed companies; √ - -
Who has not been convicted by a court of competent jurisdiction as a defaulter in
1(2)(b)(ix) payment of any loan or any advance to a bank or a Non-Bank Financial Institution √ - -
(NBFI);
1(2)(b)(x) Who has not been convicted for a criminal offence involving moral turpitude. √ - -
Mr. Ejaj Ahmad is appointed
by Board of Director &
1(2)(c) The independent director(s) shall be appointed by the board of directors and approved recommended to the
by the shareholders in the Annual General Meeting (AGM). √ - shareholders in the 47th
AGM for Approval
The post of independent director(s) cannot remain vacant for more than 90(ninety)
1(2)(d) √ - -
days.
The tenure of office of an independent director shall be for a period of 3(three) years,
1(2)(e) √ - -
which may be extended for 1(one) term only.
1(3) Qualification of Independent Director
•25

No.
Independent director shall be a knowledgeable individual with integrity who is able The qualification and
1(3)(a) to ensure compliance with financial, regulatory and corporate laws and can make √ - background of Independent
Director’s justify their abilities
meaningful contribution to business. as such
Business Leader who is or was a promoter or director of an unlisted company having
1(3)(b)(i) minimum paid -up capital of Tk. 100.00 million or any listed company or a member of - - Not applicable
any national or international chamber of commerce or bussiness association;
Corporate Leader who is or was a top-level executive not lower than Chief Executive
officer or Managing Director or Deputy Managing Director or Chief Financial Officer
or Head of Finance or Accounts or Company Secretary or Head of Internal Audit and
1(3)(b)(ii) - - Not applicable
Compliance or Head of Legal Service or a candidate with equivalent position of an
unlisted company having minimum paid up capital of Tk. 100.00 million or of a listed
company;
Former official of government or statutory or autonomous or regulatory body in the
1(3)(b)(iii) position not below 5th Grade of the national pay scale, who has at least eductional - - Not applicable
background of bachelor’s degree in economics or commerce or bussiness or law;
University Teacher who has eductional background in Economics or Commerce or Not applicable
1(3)(b)(iv) - -
Business Studies or Law;
Professional who is or was an advocate practicing at least in the High Court Division
of Bangladesh Supreme Court or a Chartered Accountant or Cost and Management
1(3)(b)(v) Accountant or Chartered Financial Analyst or Chartered Certified Accountant or - - Not applicable
Certified Public Accountant or Chartered Management Accountant or Chartered
Secretary or equivalent qualification;
The independent director(s) shall have at least 10 (ten) years of experiences in any
1(3)(c) √ - -
field mentioned in clause (b);
In special cases, the above qualifications or experiences may be relaxed subject to
1(3)(d) √ - No such event occured
prior approval of the Commission.
1(4) Duality of Chairperson of the Board of Directors and Managing Director or Chief Executive Officer
The positions of the Chairperson of the Board and the Managing Director (MD) and /or
1(4)(a) √ - -
Chief Executive Officer (CEO) of the company shall be filled by different individuals;
The Managing Director (MD) and/or Chief Executive Officer (CEO) of a listed company
1(4)(b) √ - -
shall not hold the same position in another listed company;
The Chairperson of the Board shall be elected from among the non-executive directors
1(4)(c) √ - -
of the company;
The Board shall clearly define respective roles and responsibilities of the Chairperson
1(4)(d) √ -
and the Managing Director and/ or Chief Executive officer;
In the absence of the Chairperson of the Board, the remaining members may elect one
of themselves from non-executive directors as chairperson for that particular Board’s
1(4)(e) - - No such event occured
meeting; the reason of absence of the regular Chairperson shall be duly recorded in
the minutes.
1(5) The Directors’ Report to the Shareholders
1(5)(i) An industry outlook and possible future developments in the industry; √ - -
1(5)(ii) The Segment-wise or product-wise performance; √ - -

Risks and concerns including internal and external risk factors, threat to sustainability
1(5)(iii) √ - -
and negative impact on environment, if any;
A discussion on Cost of Goods sold, Gross Profit Margin and Net Profit Margin, where -
1(5)(iv) √ -
applicable;


No.
A discussion on continuity of any extraordinary activities and their impliacations (gain
1(5)(v) - - No such event occured
or loss);
A detiled discussion on related party transactions along with a statement showing
1(5)(vi) amount, nature of related party, nature of transactions and basis of transactions of all √ - -
related party transactions;
A statement of utilization of proceeds raised through public issues, rights issues and/
1(5)(vii) - - Not applicable
or through any other instruments;
An explanation if the financial results deteriorate after the company goes for Initial
1(5)(viii) Public Offering (IPO), Repeat Public Offering (RPO). Rights Share Offer, Direct Listing, - - Not applicable
etc;
An explanation on any significant variance that occurs between Quarterly Financial -
1(5)(ix) - Not applicable
Performance and Annual Financial Statements;
1(5)(x) A statement of remuneration paid to the directors including independent directors; √ - -
A statement that the financial statements prepared by the management of the issuer
1(5)(xi) company present fairly its state of affairs, the result of its operations, cash flows and √ - -
changes in equity;
A statement that proper books of account of the issuer company have been
1(5)(xii) √ - -
maintained;
A statement that appropriate accounting policies have been consistently applied in
1(5)(xiii) preparation of the financial statements and that the accounting estimates are based √ - -
on reasonable and prudent judgment;
A statement that International Accounting Standards (IAS)or International Financial
Reporting Standards (IFRS), as applicable in Bangladesh, have been followedin
1(5)(xiv) √ - -
preparation of the financial statements and any departure there from has been
adequately disclosed;
A statement that the system of internal control is sound in design and has been
1(5)(xv) √ - -
effectively implemented and monitored;
A statement that minority shareholders have been protected from abusive actions by,
1(5)(xvi) or in the interest of, controlling shareholders acting either directly or indirectly and √ - -
have effective means of redress;
A statement that there is no Significant doubt upon the issuer company's ability to
1(5)(xvii) continue as going concern, if the issuer company is not considered to be a going √ - -
concern, the fact along with reasons there of shall be disclosed;
An explanation that significant deviations from the last year's operating results of the
1(5)(xviii) - - No such event occured
issuer company shall be highlighted and the resons thereof shall be explained;
A statement where key operating and financial data of at least preceding 5 (five) years
1(5)(xix) √ - -
shall be summarized;
An explanation on the reasons if the issuer company has not declared dividend (cash
1(5)(xx) - - Declared Dividend
or stock) for the year;
Board’s statement to the effect that no bonus share or stock dividend has been or Not applicable
1(5)(xxi) - -
shall be declared as interim dividend;
The total number of Board meetings held during the year and attendance by each
1(5)(xxii) √ - -
director;
A report on the pattern of shareholding disclosing the aggregate number of shares
1(5)(xxiii)
(along with name-wise details where stated below) held by:-
•27

No.
Parent or Subsidiary or Associated Companies and other related parties (name -wise
1(5)(xxiii)(a) √ - -
details);
Directors, Chief Executive Officer, Company Secretary, Chief Financial Officer, Head of
1(5)(xxiii)(b) √ - -
Internal Audit and Compliance their spouses and minor children (name- wise details);
1(5)(xxiii)(c) Executives; √ - -
Shareholders holding ten percent (10%) or more voting interest in the company (name-
1(5)(xxiii)(d) √ - -
wise details).
1(5)(xxiv) In case of the appointment or reappointment of a director, a disclosure on the following information to the shareholders: -
1(5)(xxiv)(a) a brief resume of the director √ - -

1(5)(xxiv) (b) nature of his/her expertise in specific functional areas; √ - -
Names of companies in which the person also holds the directorship and the
1(5)(xxiv) (c) √ - -
membership of committees of the board.
A management’s Discussion and Analysis signed by CEO or MD presenting detailed analysis of the company’s position and operations along
1(5)(xxv)
with a brief disscission of changes in financial statements, among others, focusing on:
1(5)(xxv)(a) Accounting policies and estimation for preparation of financial statements; √ - -
Changes in accounting policies and estimation, if any, clearly describing the effect
1(5)(xxv)(b) on financial performance or results and financial position as well as cash flows in √ - -
absolute figure for such changes;
Comparative analysis (including effects of inflation) of fianacial performance or
1(5)(xxv)(c) results and financial position as well as cash flows for current financial year with √ - -
immediately preceding five years explaining reasons thereof;
compare such financial performance or results and financial position as well as cash To be complied
1(5)(xxv)(d) - -
flows with the peer industry scenario;
1(5)(xxv)(e) briefly explain the financial and economic scenario of the country and the globe; √ - -
risks and concerns issues related to the financial statements, explaining such risk and
1(5)(xxv)(f) √ - -
concerns mitigation plan of the company; and
future plan or projection or forecast for company’s operation, performance and
1(5)(xxv)(g) financial position, with justification thereof, i.e., actual position shall be explained to √ - -
the shareholders in the next AGM;
Declaration or certification by the CEO and the CFO to the Board as required under
1(5)(xxvi) √ - -
condition No. 3(3) shall be disclosed as per Annexure-A; and
The report as well as certificate regarding compliance of conditions of this code as
1(5)(xxvii) √ - -
required under condition No. 9 shall be disclosed as per Annexure-B and Annexure-C.
1(6) Meetings of the Board of Directors
The company shall conduct its Board meetings and record the minutes of the
meetings as well as keep required books and records in line with the provisions of
the relevant Bangladesh Secretarial Standards (BSS) as adopted by the Institute √ - -
of Chartered Secretaries of Bangladesh (ICSB) in so far as those standards are not
inconsistent with any condition of this Code.
1(7) Code of Conduct for the Chairperson, other Board Members and Chief Executive Officer
The Board shall lay down a code of conduct, based on the recommendation of the
1(7)(a) Nomination and Remuneration Committee (NRC), for the Chairperson of the Board, √ - -
other board members and Chief Executive Officer of the company;


No.
The code of conduct as determined by the NRC shall be posted on the website of the
1(7)(b) √ - -
company
2 Governance of Board of Directors of Subsidiary Company

Provisions relating to the composition of the Board of the holding company shall be √
2(a) - -
made applicable to the composition of the Board of the subsidiary company;
At least 1 (one) independent director of the Board of the holding company shall be a
2(b) √ - -
director on the Board of the subsidiary company;
The minutes of the Board meeting of the subsidiary company shall be placed for √
2(c) - -
review at the following Board meeting of the holding company.
The minutes of the respective Board meeting of the holding company shall state that √
2(d) - -
they have reviewed the affairs of the subsidiary company also;
The Audit Committee of the holding company shall also review the financial
2(e) √ - -
statements, in particular the investments made by the subsidiary company.
Managing Director (MD) or Chief Executive Officer (CEO), Chief Financial Officer (CFO), Head of Internal Audit and Compliance (HIAC) and
3
Company Secretary (CS)
The Board shall appoint a Managing Director (MD) or Chief Executive Officer (CEO), a
3(1)(a) Company Secretary (CS), a Chief Financial Officer (CFO) and a Head of Internal Audit √ - -
and Compliance (HIAC);
The positions of the Managing Director (MD) or Chief Executive Officer (CEO),
3(1)(b) Company Secretary (CS), Chief Financial Officer (CFO) and a Head of Internal Audit √ - -
and Compliance (HIAC) shall be filled by different individuais;
The MD or CEO, CS, CFO and HIAC of a listed company shall not hold any executive
3(1)(c) √ - -
position in any other company at the same time;
The Board shall clearly define respective roles, responsibilities and duties of the CFO,
3(1)(d) √ - -
the HIAC and the CS;
The MD or CEO, CS, CFO and HIAC shall not be removed from their position without
3(1)(e) approval of the Board as well as immediate dissemination to the Commission and - - No such event occured
stock exchange(s).
3(2) Requirement to attend Board of Director’s Meetings
The MD or CEO, CS, CFO and HIAC of the company shall attend the meetings of the
√ - -
Board:
3(3) Duties of Managing Director (MD) or Chief Executive Officer (CEO) and Chief Financial Officer (CFO)
The MD or CEO and CFO shall certify to the Board that they have reviewed financial statements for the year and that to the best of their
3(3)(a)
knowledge and belief:
These statements do not contain any materially untrue statement or omit any material
3(3)(a)(i) √ - -
fact or contain statements that might be misleading;
These statements together present a true and fair view of the company’s affairs and
3(3)(a)(ii) √ - -
are in compliance with existing accounting standards and applicable laws;
The MD or CEO and CFO shall also certify that there are, to the best of knowledge
and belief, no transactions entered into by the company during the year which are
3(3)(b) √ - -
fraudulent illegal or violation of the code of conduct for the company’s Board or its
member;
3(3)(c) The certification of the MD or CEO and CFO shall be disclosed in the Annual Report. √ - -
4 Board of Director’s Committee.For ensuring good governance in the company, the Board shall have at least following sub-committees:
•29

No.
4(i) Audit Committee; √ - -
4(ii) Nomination and Remuneration Committee √ - -
5 Audit Committee
5(1) Responsibility to the Board of Directors
5(1)(a) The company shall have an Audit Committee as a sub-committee of the Board; √ - -
The Audit Committee shall assist the Board of Directors in ensuring that the financial
5(1)(b) statements reflect true and fair view of the state of affairs of the company and in √ - -
ensuring a good monitoring system within the business;
The Audit Committee shall be responsible to the Board;the duties of the Audit
5(1)(c) √ - -
Committee shall be clearly set forth in writing.
5(2)(a) The Audit Committee shall be composed of at least 3 (three) members; √ - -
The Board shall appoint members of the audit committee who shall be non-executive
5(2)(b) directors of the company excepting Chairperson of the Board and shall include at least √ - -
1(one) independent director;
All members of the audit committee should be "financially literate" and at least I (one)
5(2)(c) member shall have accounting or related financial management background and √ - -
10(ten)years of such experience;
When the term of service of any Committee members expires or there is any
circumstance causing any Committee member to be unable to hold office before
expiration of the term of service, thus making the number of the Committee members
5(2)(d) to be lower than the prescribed number of 3 (three) persons, the Board shall appoint √ - -
the new Committee member to fill up the vacancy immediately or not later than 1
(one) month from the date of vacancy in the Committee to ensure continuity of the
performance of work of the Audit Committee;
5(2)(e) The company secretary shall act as the secretary of the Committee. √ - -
The quorum of the Audit Committee meeting shall not constitute without at least 1
5(2)(f) √ - -
(one) independent director.
The Board of Directors shall select 1 (one) member of the Audit Committee to be
5(3)(a) √ - -
Chairperson of the Audit Committee, who shall be an Independent director;
In the absence of the Chairperson of the audit committee, the remaining members
may elect one of themselves as Chairperson for that particular meeting, in that case
5(3)(b) there shall be no problem of constittuting a quorum as required under condition √ - -
No.5(4)(b) and the reson of absence of the regular chairperson shall be duly recorded
in the minutes.
Chairperson of the Audit Committee shall remin present in the Annual General Meeting -
5(3)(c) √ -
(AGM):
The Audit Committee shall conduct at least its four meetings in a financial year.
5(4)(a) Provided that any emergency meeting in addition to regular meeting may be convened √ - -
at the request of any one of the members of the Committee;
The quorum of the meeting of the Audit Committee shall be constituted in presence of
5(4)(b) either two members or two third of the members of the Audit Committee, whichever is √ - -
higher, where presence of an independent director is a must.
5(5) The Audit Committee shall:
5(5)(a) Oversee the financial reporting process; √ - -
5(5)(b) Monitor choice of accounting policies and principles; √ - -


No.
Monitor Internal Audit and Compliance process to ensure that it is adequately
5(5)(c) resourced, including approval of the Internal Audit and Compliance plan and review of √ - -
the Internal Audit and Compliance Report;
5(5)(d) Oversee hiring and performance of external auditors. √ - -
Hold meeting with the external or statutory auditors for review of the annual financial
5(5)(e) √ - -
statements before submission to the Board for approval or adoption;
Review along with the management, the annual financial statements before
5(5)(f) √ - -
submission to the board for approval;
Review along with the management, the quarterly and half yearly financial statements
5.5(g) √ - -
before submission to the board for approval;
5.5(h) Review the adequacy of internal audit function; √ - -
Review the Management’s Discussion and Analysis before disclosing in the Annual
5(5)(i) √ - -
Report;
5(5)(j) Review statement of all related party transactions submitted by the management; √ - -
Review Management Letters or Letter of Internal Control weakness issued by statutory
5(5)(k) √ - -
auditors.
Oversee the determination of audit fees based on scope and magnitude, level of
5(5)(l) experise deployed and time required for effective audit and evalute the performance of √ - -
external auditors;
Oversee whether the proceeds raised through Initial public Offering (IPO) or Repeat
5(5)(m) public Offering (RPO) or Rights Share offer have been utilized as per the purpose stated - - Not applicable
in relevent offer document or prospectus approved by the Commission:
5(6) Reporting of the Audit Committee
5(6)(a) Reporting to the Board of Directors
5(6)(a)(i) The Audit Committee shall report on its activities to the Board. √ - -
5(6)(a)(ii) The Audit Committee shall immediately report to the Board of Directors on the following findings, if any: -
5(6)(a)(ii)(a) report on conflicts of interests; - - No such event occured
suspected or presumed fraud or irregularity or material defect identified in the internal
5(6)(a)(ii)(b) - - No such event occured
internal audit and compliance process or in the financial statements; control system;
suspected infringement of laws, regulatory compliances including securities related
5(6)(a)(ii)(c) - - No such event occured
laws, rules and regulations;
any other matter which the Audit Committee deems necessary shall be disclosed to
5(6)(a)(ii)(d) - - No such event occured
the Board immediately;
5(6)(b) Reporting to the Authorities: -
If the Audit Committee has reported to the Board about anything which has material
impact on the financial condition and results of operation and has discussed with
the Board and the management that any rectification is necessary and if the Audit
Committee finds that such rectification has been unreasonably ignored, the Audit - - No such event occured
Committee shall report such finding to the Commission, upon reporting of such
matters to the Board for three times or completion of a period of 6 (six) months from
the date of first reporting to the Board, whichever is earlier.
5(7) Reporting to the Shareholders and General Investors
•31

No.
Report on activities carried out by the Audit Committee, including any report made
to the Board under condition 5(6)(a)(ii) above during the year, shall be signed by the
√ - -
Chairperson of the Audit Committee and disclosed in the annual report of the issuer
company.
6 Nomination and remuneration Committee (NRC).
6(1) Responsibility to the Board of Directors

The company shall have a Nomination and Remuneration Committee (NRC) as a sub-
6(1)(a) √ - -
committee of the Board;
The NRC shall assist the Board in formulation of the nomination criteria or policy
for determining qualifications, positive attributes, experiences and independence of
6(1)(b) √ - -
directors and top-level executive as well as a policy for formal process of considering
remuneration of directors, top level executive;
The Terms of Reference (ToR) of the NRC shall be clearly set forth in writing covering
6(1)(c) √ - -
the areas stated at the condition No. 6(5)(b).
6(2) Constitution of the NRC
The Committee shall comprise of at least three members including an independent
6(2)(a) √ - -
director;
6(2)(b) All member of the Committee shall be non-executive directors; √ - -
6(2)(c) Members of the Committee shall be nominated and appointed by the Board; √ - -
6(2)(d) The Board shall have authority to remove and appoint any member of the Committee; √ - -
In case of death, resignation, disqualification, or removal of any member of the
6(2)(e) Committee or in any other cases of vacancies, the board shall fill the vacancy within - - Not applicable
180 (one hundred eighty) days of occurring such vacancy in the Committee;
The Chairperson of the Committee may appoint or co-opt any external expert and/
or member(s) of staff to the Committee as advisor who shall be non-voting member,
6(2)(f) - - Noted
if the Chairperson feels that advice or suggestion form such external expert and/or
member(s) of staff shall be required or valuable for the Committee;
6(2)(g) The company secretary shall act as the secretary of the Committee; √ - -
The quorum of the NRC meeting shall not constitute without attendance of at least an
6(2)(h) √ -
independent director;
No member of the NRC shall receive, either directly or indirectly, any remuneration for
6(2)(i) any advisory or consultancy role or otherwise, other than Director’s fees or honorarium √ - -
from the company.
6(3) Chairperson of the NRC
The Board shall select 1(one) member of the NRC to be Chairperson of the Committee,
6(3)(a) √ - -
who shall be an independent director;
In the absence of the Chairperson of the NRC, the remaining members may elect one
6(3)(b) of themselves as Chairperson for that particular meeting, the reason of absence of the √ - No such event occured
regular Chairperson shall be duly recorded in the minutes;
The Chairperson of the NRC shall attend the annual general meeting (AGM) to answer - -
6(3)(c) √
the queries of the shareholders:
6(4) Meeting of the NRC
6(4)(a) The NRC shall conduct at least one meeting in a financial year; √ - -


No.
The Chairperson of the NRC may convene any emergency meeting upon request by
6(4)(b) - - Noted
any member of the NRC;
The quorum of the meeting of the NRC shall be constituted in presence of either two
6(4)(c) members or two third of the members of the Committee, whichever is higher, where √ - -
presence of an independent director is must as required under condition No. 6(2)(h);
The proceedings of each meeting of the NRC shall duly be recorded in the minutes and
6(4)(d) √ - -
such minutes shall be confirmed in the next meeting of the NRC.
6(5) Role of the NRC
NRC shall be independent and responsible or accountable to the Board and to the
6(5)(a) √ - -
shareholders;
NRC shall oversee, among others, the following matters and make report with
6(5)(b) √ - -
recommendation to the Board:
Formulating the ceiteria for determining qualifications, positive atteibutes and
6(5)(b)(i) independence of a director and recommend a policy to the Board, relating to the √ - -
remuneration of the directors, top level executive, considering the following:
The level and composition of remuneration is reasonable and sufficient to attract, -
6(5)(b)(i)(a) √ -
retain and motivate suitable directors to run the company successfully;
The relationship of remuneration to performance is clear and meets appropriate
6(5)(b)(i)(b) √ - -
performance benchmarks; and
Remuneration to directors, top level executive involves a balance between fixed and
6(5)(b)(i)(c) incentive pay reflecting short and long-term performance objectives appropriate to the √ - -
working of the company and its goals;
Devising a policy on Board’s diversity taking into consideration age, gender,
6(5)(b)(ii) √ - -
experience, ethnicity, educational background and nationality;
Identifying persons who are qualified to become directors and who may be appointed
6(5)(b)(iii) in top level executive position in accordance with the ceiteria laid down, and √ - -
recommend their appointment and removal to the Board;
Formulating the criteria for evaluation of performance of independent directors and -
6(5)(b)(iv) √ -
the Board;
Identifying the company’s needs for employees at different levels and determine their -
6(5)(b)(v) √ -
selection, transfer or replacement and promotion criteria;
Developing, recommending and reviewing annually the company’s human resources
6(5)(b)(vi) √ - -
and training policies;
The company shall disclose the nomination and remuneration policy and the
6(5)(c) √ - -
evaluation criteria and activities of NRC during the year at a glance in its annual report.
7 External or Statutory Auditors
7(1) The issuer shall not engage its external or statutory auditors to perform the following services of the company, namely:
7(1) (i) Appraisal or valuation services or fairness opinions; √ - -
7 (1) (ii) Financial information system design and implementation; √ - -
Book-keeping or other services related to the accounting records or financial
7 (1) (iii) √ - -
statement;
7 (1) (iv) Broker –dealer services; √ - -
Book-keeping or other services related to the accounting records or financial
7 (1) (iii) √ - -
statement;
7 (1) (iv) Broker –dealer services; √ - -
•33

No.
7 (1) (v) Actuarial services; √ - -
7 (1) (vi) Internal audit services or special audit services; √ - -
7 (1) (vii) Any services that the Audit Committee determines. √ - -
Audit or certifiaction services on compliance of corporate governance as required
7 (1) (viii) √ - -
under condition No.9(1);
7 (1) (ix) Any other service that creates conflict of interest √ - -
No Partner or employees of the external audit firms shall possess any share of
the company they audit at least during the tenureof their audit assignment of that
7(2) √ - -
company; his or her family members also shall not hold any shares in the said
company:
Representative of external or statutory auditors shall remain present in the
7(3) Shareholders’ Meeting (Annual General meeting or Extraordinary General Meeting) to √ - -
answer the queries of the shareholders.
8 Maintaining a website by the Company
The Company shall have an official website linked with the website of the stock
8(1) √ - -
exchange.
8(2) The company shall keep the website functional from the date of listing. √ - -
The company shall make available the detailed disclosures on its website as required
8(3) √ - -
under the regulations of the concerned stock exchange(s)
9 Reporting and Compliance of Corporate Governance
The company shall obtain a certificate from a practicing Professional Accountant or
Secretary (Chartered Accountant or Cost and Management Accountant or Chartered
9(1) Secretary) other than its statutory auditors or audit firm on yearly basis regarding √ - -
compliance of Corporate Governance Code of the Commission and shall such
certificate shall be disclosed in the Annual Report.
The professional who will provide the certificate on compliance of this Corporate
9(2) Governance Code shall be appointed by the Shareholders in the annual general √ - -
meeting.
The directors of the company shall state, in accordance with the Annexure-C attached,
9(3) in the directors’ report whether the company has complied with these conditions or √ - -
not.
CEO & Managing Director

ANNEXURE-D
AUDIT COMMITTEE REPORT FOR THE YEAR ENDED JUNE 30, 2020
The Audit Committee consists of the following members:
Mr. Nehal Ahmed Independent Director Chairman, Audit Committee
Mrs. Tanya Tazeen Karim Director Member
Mr. Syed S. Kaiser Kabir CEO & Managing Director Member

(Up to 13. 06.2020)
Mr. Mridul Chowdhury Director Member

(From 13.06.2020)
The scope of Audit Committee was defined as under:
a) To review the quarterly, half yearly and the audited financial statements and management letter if any;
b) To recommend to the Board of Directors the quarterly, half yearly and the audited financial
statements for approval;
c) To review the internal audit findings and monitor the progress of potential issues;
d) To review the statement of all related party transactions submitted by the management; and
e) To recommend to the Board of Directors the reappointment and refix the remuneration of
M/S ACNABIN, Chartered Accountants as External Auditors of the Company for the year 2020-2021.
Activities carried out during the period
The committee reviewed the internal audit reports, financial statements and the external audit report.
The committee didn’t find any material deviation, discrepancy or any adverse finding / observation in the
area of reporting.
Nehal Ahmed
Chairman
Audit Committee
•35
RENATA LIMITED
REPORT OF THE NOMINATION & REMUNERATION COMMITTEE (NRC)
The Board of Directors of Renata Limited has duly constituted a Nomination and Remuneration Committee (NRC), in
accordance with the requirements of the BSEC Code of Corporate Governance. .
The NRC at Renata provides guidance to the management in identifying the Company’s needs for employees at different levels
and determining their selection, transfer or replacement and promotion criteria.
The NRC aid the Board in the nomination criteria or policy for determining qualifications, positive attributes, experiences and
independence of Directors and other top-level executives. The NRC also assists the Board to formulate policy for formal and
continued process of considering remuneration/honorarium of Directors and top-level executives.
The Report of Nomination and Remuneration Committee is prepared in compliance with the Corporate Governance Code
issued by the Bangladesh Securities and Exchange Commission (BSEC).
This Report describes the nomination and remuneration policies, evaluation criteria and activities of the NRC at Renata Ltd.
1. Overview of the Nomination and Remuneration Policies:

Renata Limited follows nomination and remuneration policies, the benchmark of which relies on standards and
recognizable in the market context and sufficient to meet the current and future needs of the Company. The broad’s criteria
in that respect for Directors and top-level executives and all other employees of the Company are outlined here:
a) Nomination Criteria
i. the Company policies and guidelines as well as country regulations (where applicable) are followed
ii. transparency in all respects is maintained in the selection process
iii.a process which is compatible with international standards as well local best practices is follows
iv. core competencies of the respective personnel for the different level of management and employees of the Company
is recognized.
v. efforts are made to ensure diversity in terms age, maturity, qualification, expertise and gender disciplines
vi. the selection process reflects the value the company places on equality and diversity.
b) Recruitment and Selection Guidelines

The NRC draws a broad outline of the Company needs for employees at different levels, as ascertained by the
management. The recruitment and selection of Directors, top-level executives and other employees of the Company
are made according to the following guidelines:
❏ Executive Director:
The NRC recommends the candidate(s) for Executive Director(s), based on nomination by the majority shareholders.
The Board of Directors appoint the Executive Director/s upon nomination and recommendation of the NRC.
❏ Non-Executive Director:
The NRC recommends candidate(s) for Non-Executive Director(s), based on nomination by the majority shareholders,
the Government shareholders and other general shareholders. The Board of Directors appoints the Non-Executive
Directors upon nomination and recommendation of the NRC.
❏ Independent Director:
The Independent Director shall be a knowledgeable individual with integrity who is able to ensure compliance with
financial laws, regulatory requirements and corporate laws that can make meaningful contribution to the business. The
Independent Director should have competence relevantto the sector in which the Company operates, and necessarily
should have the qualifications as required by the regulations of BSEC. The Board of Directors appoints Independent
Directors upon nomination and recommendation of the NRC, which is then approved by shareholders at the Annual
General Meeting of the Company.
❏ Top-level executives:
The NRC identifies and recommends candidate(s) for top-level executives upon thorough scrutiny by the Managing
Director, Executive Committee and Human Resources Department (HRD), considering relevant qualifications,
experience, skills and leadership, as required for the respective positions based on the Company’s internal selection
process.

Explanation:
‘Top-level executives’ of the Company include the Managing Director, Directors, the General Manager of Finance, the
Head of Human Resources, all the Executive Committee Members (head of functions), the Company Secretary, the
Head of Internal Audit & Compliance, and same level/ ranked/ salaried officials of the Company.
❏ Other Employees:
The NRC sets a guideline to identify the Company’s need for employees at different levels, and empowers the relevant
management of the Company’s HRD for selection, transfer, replacement and promotion of respective employees
based on the Company’s internal processes.
2. Roles, Responsibilities, Constitution and Evaluation Criteria of the Committee:
a) Executive Directors
The respective line authority of the Executive Director(s) sets the performance measurement criteria based on the
respective role profile and responsibilities through a Company appraisal process at the beginning of each calendar
year. The Executive Director(s) prepare the performance document (half-year and year end). The respective line
authority then evaluates the performance of the Executive Director(s) according to the measurement criteria.
b) Independent Director & Non-Executive Director

The evaluation of performance of the Independent Directors (IDs) and Non-Executive Directors are carried out at least
once a year by the Board of Directors, according to the following criteria:
a) Attendance at the Board meetings and committee meetings
b) Participation in the Board meetings and committee meetings
c) Contribution to improving the corporate governance practices of the Company
c) Top-level Executives & other Employees

The respective line authority of top-level executives and other employees sets the performance measurement criteria
based on the respective roles and responsibilities to achieve people and business objectives through Company
appraisal processes at the beginning of each calendar year. The employees concerned prepare the performance
document (half-year and year end). The respective line authority then evaluates the performance of the employee(s)
according to the measurement criteria.
In addition, the NRC formulates guidelines for evaluation and assessment of all employees in the organization. These
guidelines are then passed on to Human Resources Division. These guidelines are followed when assessing the
performance of all employees.
d) Mid-level Employees:
The respective line management or line authority of mid-level employees and other employees set the performance
measurement criteria based on respective roles and responsibilities to achieve people and business objectives through
Company appraisal processes at the beginning of each calendar year.
e) Junior-level Employees:
The respective line management or line authority of junior-level employees and other employees set the performance
measurement criteria based on respective roles and responsibilities to achieve people and business objectives through
Company appraisal processes at the beginning of each calendar year
Roles and Responsibilities of the Committee

i) NRC shall oversee, among others, the following matters and make report with recommendation to the Board;
ii) formulating the criteria for determining qualifications, positive attributes and independence of a director and
recommend a policy to the Board, relating to the remuneration of the directors, top level executive, considering the
following:
iii) the level and composition of remuneration is reasonable and sufficient to attract, retain and motivate suitable
directors to run the company successfully;
iv) the relationship of remuneration to performance is clear and meets appropriate performance benchmarks; and
v) remuneration to directors, top level executive involves a balance between fixed and incentive pay reflecting short
and long-term performance objectives appropriate to the working of the company and its goals;
vi) reviewing the appropriateness and relevance of the present policy;
•37
vii) reviewing the policy for authorizing claims for expenses from the Directors;
viii) maintaining liaison as necessary with all other Board Committees;
ix) identifying the company’s needs for employees at different levels and determine their selection, transfer or
replacement and promotion criteria; and
x) developing, recommending and reviewing annually the company’s human resources and training policies;
Review of the Terms of Reference

i) The Committee shall review annually its Terms of Reference and may recommend to the Board any amendments
to its Terms of Reference.
ii) The Board shall have the authority to make amendment to this Terms of Reference at any time.
3. Activity Summary of Nomination and Remuneration Committee during the year
a) Formation of NRC and its Meetings

The Board restructured the Nomination & Remuneration Committee (NRC) on June 13, 2020 as per the requirement of
BSEC Corporate Governance Code with the following composition:
• Mr. Nehal Ahmed (from 26.01.2019 to till to date)

Director & Chairperson of the NRC
• Mrs. Zahida Fizza Kabir

Director & Member, NRC
• Mrs. Tanya Tazeen Karim

Director & Member, NRC
In 2019-20 the Committee met twice, dated 13 November, 2019 and June 02, 2020. The Managing Director, Head of Finance
and Head of HR attended the meeting by invitation of the committee.
The Key activities of the NRC during the year:

1. Considering the terms of reference of NRC, as approved by the Board
2. Formulated the criteria for determining qualifications, positive attributes and independence of Director
3. Formulated the a policy relating to the remuneration of the Directors, top level executives and all employees of
the company
4. Formulated the criteria for evaluation of performance of Independent Directors and the Board Members.
5. Identify the criteria for selection, transfer or placement and promotion at different levels of the company.
Nehal Ahmed
Chairman
Nomination and Remuneration Committee

ANNEXURE-E
RENATA LIMITED FINANCIAL HIGHLIGHTS
Figures in Taka (Thousands)
Particulars 2019-2020 2018-2019 2017-2018 2016-2017 2016 (6 months) 2015
Balance Sheet
Shareholders' Equity
Share capital 885,892 805,357 700,310 608,965 529,535 529,535
Proposed stock dividend 88,589 80,536 105,047 91,345 - 79,430
Proposed cash dividend 1,151,660 805,357 665,295 791,655 - 450,105
Revaluation surplus 153,854 154,331 154,808 155,285 156,282 156,520
Tax holiday reserve - - - - - 315,027
Unappropriated profit 19,259,433 16,439,183 13,501,704 10,827,285 9,857,260 7,875,242
Shareholders' fund 21,539,430 18,284,763 15,127,164 12,474,535 10,543,077 9,405,859
Long term & deferred liabilities 1,442,915 1,303,840 1,209,209 1,233,238 1,196,986 1,084,703
Total 22,982,345 19,588,603 16,336,373 13,707,773 11,740,063 10,490,562
Application of Funds
Property, plant & equipment-WDV 13,668,110 11,720,776 10,746,707 10,245,093 9,672,963 9,419,128
Investment & non-current assets 63,080 143,079 143,069 143,069 251,263 235,464
Current assets 15,313,364 12,337,381 9,921,903 7,736,183 6,836,121 6,483,183
Current liabilities (6,062,210) (4,612,634) (4,475,306) (4,416,572) (5,020,284) (5,647,213)
Total 22,982,345 19,588,603 16,336,373 13,707,773 11,740,063 10,490,562
Financial Results
Turnover (Gross) 27,675,678 25,431,634 21,339,459 18,335,157 8,394,975 14,735,200
Turnover (Net) 24,164,022 22,220,887 18,603,709 16,043,431 7,318,104 12,880,957
Gross profit 11,531,115 11,154,921 9,346,470 8,102,926 3,779,587 6,545,154
EBITDA 7,130,372 6,165,632 5,239,795 4,523,432 2,285,037 3,542,645
Profit before taxation 5,992,008 5,213,777 4,333,061 3,691,715 1,887,698 2,731,512
Profit after taxation 4,129,596 3,823,362 3,196,951 2,612,142 1,143,353 2,006,641
Total comprehensive income 4,102,930 3,822,735 3,200,539 2,625,511 1,137,138 2,008,012
Dividend 1,240,249 885,892 770,342 883,000 - 529,535
Financial Performance
Number of shares 88,589,242 80,535,675 70,031,022 60,896,541 52,953,514 52,953,514
Earnings per share (Taka) 46.62 43.16 36.09 29.49 12.91 22.65
Dividend per share (Taka) 14.00 11.00 11.00 14.50 - 10.00
Dividend payout % 30.03% 23.17% 24.10% 33.80% - 26.39%
Effective dividend rate % 1.36% 0.92% 0.85% 1.25% - 0.81%
Price earnings ratio (Times) 22.01 27.77 35.93 39.24 91.83 54.43
Market price per share (Taka) 1,026.20 1,198.40 1,296.50 1,157.10 1,185.20 1,233.00
Price/Equity ratio (Times) 102.62 119.84 129.65 115.71 118.52 123.30
Return on shareholders' fund % 19.17% 20.91% 21.13% 20.94% 10.84% 21.33%
Current ratio (Times) 2.53 2.67 2.22 1.75 1.36 1.15
Net operating cash flow per share (Taka) 51.91 46.90 29.48 39.72 16.24 22.48
Net asset value per share (Taka) 243.14 206.40 170.76 140.81 119.01 106.17
Number of employees 7,710 6,886 6,798 6,087 5,965 5,473
•39
TAKA (MILLIONS)
24164.0
11531.1
11154.9
22220.8
25000 12000
9346.4
18603.7
10000
8102.9
16043.4
20000
6545.1
12880.0
8000
15000
6000
3779.5
7318.1
10000
4000
5000
2000
0 0
2015 2016 2016-2017 2017-2018 2018-2019 2019-2020 2015 2016 2016-2017 2017-2018 2018-2019 2019-2020
(6 months) (6 months)
TURNOVER (NET) GROSS PROFIT
5000 1500
4129.5
1240.2
3823.3
4000 1200
3196.9
885.8
883.0
2612.1
770.3
3000 900
2006.6
529.5
2000 600
1143.3
1000 300
0 0
2015 2016 2016-2017 2017-2018 2018-2019 2019-2020 2015 2016-2017 2017-2018 2018-2019 2019-2020
(6 months)
NET PROFIT DIVIDEND

2019-20 2018-19
Taka % Taka %
Turnover and other income 24,708,107,920 22,495,772,611
Less: Materials cost & Expenses 11,755,954,062 10,690,224,218
Value Added 12,952,153,858 100.00 11,805,548,393 100.00
Application:
Salaries and benefits to employees 3,323,502,897 25.7% 2,898,706,073 24.6%
Duties and Taxes to Government Exchequer 5,499,055,158 42.5% 5,083,480,190 43.1%
Dividend to Shareholders 1,240,249,388 9.6% 885,892,425 7.5%
Retained by the Company 2,889,346,415 22.3% 2,937,469,705 24.9%
Total 12,952,153,858 100.00 11,805,548,393 100.00
Salaries and benefits to Employees Dividend to Shareholders

Duties and Taxes to Government Exchequer Retained by the Company
2019-2020 2018-2019
22.3% 24.6%
9.6%
43.1%
42.5% 7.5%
25.7% 24.9%
•41
Corporate Social Responsibility (CSR) is the continuing The following areas are covered:General,
commitment by business to behave ethically and Gynaecology, Cardiovascular, Diabetes, Accident,
contribute to economic development while improving the Diagnostic, Gastroentology, Oncology, Pediatrics,
quality of life of the workforce and their families as well as Dentistry, Skin & Dermatology, Nephrology,
of the local community and society at large. We strongly Gastroentology, ENT
believe that in order to be successful, it is necessary to
create value, not just for the company but also for the B) SUPPORT TO CHARITABLE
society that we live in. In our company, corporate social
responsibility means caring for our employees, assisting ORGANIZATIONS:
disadvantaged members of our society, and building a Renata encourages organizations that are
working for a change in society by providing
sustainable environment.
financial support to them. Over the years, Renata
Ltd. has made donations and contributions to a
Led by this believe, Renata donates substantially on
number of reputable charitable organizations.
various CSR activities:
Most of these organizations are working for the
betterment of underprivileged and disadvantaged
A) HEALTHCARE FOR EMPLOYEES members of our society. Donations made to
AND THEIR FAMILIES charitable organizations make up a significant
The Renata health program covers all permanent portion of Renata’s total CSR expenditure every
employees, their spouses, and children. This year. Renata has extended its support to the
comprehensive program includes surgery, hospitalization, following charitable organizations over the last few
as well as routine doctor visits. At Renata, all employees years.Here is a list of the charitable organizations
to which Renata has made financial donations
are reimbursed for their personal medical expenses.
NAME ACTIVITIES
JAAGO Foundation is a non-profit that works to provide education to children from
Jaago socially and economically disadvantaged backgrounds. Various support functions
Foundation work to ensure the sustainable growth of their core schooling program as well
contribute to improved livelihoods within affected communities.
One Degree One Degree Initiative is a non-profit that provides mentorship to young people in
Initiative order to engage them as active citizens and inspire entrepreneurship
Nijera Kori is a non-profit dedicated to addressing issues of human rights and

Nijera Kori sustainable livelihoods. They are active in 18 districts and work to advocate for and
empower landless poor and marginalized communities.
The Poverty The Poverty Fighter Foundation is a dedicated non-profit organization working to
Fighter Foundation reduce poverty in Bangladesh. Renata supported their program aiming to empower
children through education.
Birangona Project focuses on the often forgotten women war heroes of Bangladesh
Birangona Project and helps to empower these heroes and provide them with sustainable livelihoods
and support.
Kaan Pete Roi is an emotional support helpline in Bangladesh.It is staffed by

trained volunteers, where people can call to receive immediate emergency
counseling. The mission of the helpline is to alleviate feelings of despair, isolation,
Kaan Pete Roi
distress, and suicidal feelings among members of the community, through
confidential listening. The helpline is intended for suicide prevention and the
promotion of mental health.
Dr. Faria Faisal

Dr. Faria Faisal Memorial Foundation for free medical camp.
Memorial Foundation

NAME ACTIVITIES
Mamm's Institute of Fistula and Women's Health as a charitable hospital is rendering
Mamm's Institute
free services to poor women of Bangladesh. In respect to this the organization is
of Fistula and
providing free medical services and training on fistula surgery, prolapse surgery,
Women's Health
incontinence surgery etc.
Acid Survivor’s Foundation was formed in 1999 with the growing concern of the rising
Acid Survivor's
trend of acid violence in Bangladesh. Acid violence is a form of gender based violence
Foundation
that reflects and perpetuates the inequality of women in society.
Amader Pathshala is a social initiative for quality education of underprivileged children.
It aims to deliver education, appropriate to their socio-economic condition and cultural
Amader make up. This means to make the lessons interesting to the children in the course of
Pathshala interaction, and to find out the ways continuing of their studies as the key challenges.
This initiative is completely private financed and 100% of the donations are used
directly for the student's education.
Bangladesh Infertility Management Centre (BIMC) is a modern and international
Bangladesh standard test tube baby and infertility treatment center has been working since 2005.
Infertility The Centre has taken initiative to develop a “Women Cancer Prevention and Research
Management Centre” under it with a view to help in screening women for prevention of different types
Centre (BIMC) of female cancers. It will also perform research work and provide low cost services to
under privileged women.
BRAC, an international development organization based in Bangladesh, is the largest
non-governmental development organization in the world, in terms of number of
employees as of September 2016. Established by Sir Fazle Hasan Abed in 1972 after
the independence of Bangladesh, BRAC is present in all 64 districts of Bangladesh as
well as 13 other countries in Asia, Africa, and the Americas. The objective of the BRAC
BRAC was economic development, education, public health and disaster relief. BRAC Health
has reached the under-privileged and deprived community through its frontline
community health workers (CHWs); adopting a door to door service delivery approach.
BRAC’s international operations replicated the models used in Bangladesh to provide
healthcare services to the community people.
SAHIC (Society for Assistance to Hearing Impaired Children) is a voluntary NGO
established in 1987 for prevention, early detection and rehabilitation of the hearing
Society for impaired in Bangladesh, especially children. SAHIC runs mobile ear camps that focus
Assistance to on prevention, detection, and treatment of hearing impairments especially in children
Hearing Impaired and also offer ENT (ear, nose, and throat) treatment. SAHIC also operates a hospital
Children specializing in ENT and head and neck treatment/surgeries that serves all Bangldeshis.
The objective of the society was to prevent an early detect hearing impairment, to treat
the diseases that may causehearing impairment and rehabilitation of hearing impaired,
especially children.
Mir Hasan Ali and his wife Sahera Khatun wish to establish a hospital which will help the
Sahera Hasan poor people. Sahera Hasan Memorial Hospital is the reflection of their wish. Professor
Memorial Trust Dr. Rowshan Ara Begum, their middle child established this hospital with her own
expense. Her goal is to provide service for the general people. This hospital aimed at
providing totally free medical treatment for helpless poor people.
The Neuroscience Research Center of Dhaka University (NRCDU) was created under
the approval of Honorable Vice-Chancellor of Dhaka University and the Syndicate of
Dhaka University. The neuroscience is a very promising and potential discipline of life
sciences and it comes to encompass a growing number and diversity of special
Neoroscience research areas involving brains and the related central and peripheral tissues. The key
Research topics of research and studies to understand and to unfold the mystery of brains and
Centre of brain related functions are neurochemistry, neurophysiology, neurobiochemistry,
Dhaka University developmental neurobiology, neuropharmacology, neurotoxicology, neuro-immunology,
neuroendocrinology, neuroanatomical, organizational and chemical complexities of
nervous system, nerve impulse conduction and transmission, neurotransmitters,
neuromodulators, neurotransmitters-mediating enzymes, their purifications,
characterizations and genetics and molecular biology and chromozomal studies.
•43
NAME ACTIVITIES
Centre for Cancer Centre for Cancer Prevention and Research (CCPR) is a voluntary organization
Prevention and working in Bangladesh for cancer prevention and control.
Research
Combined Medical Combined Military Hospital (CMH) to open an In-vitrofertilization center aiming to
Hospital offer a comprehensive range of fertility treatment.
C) SCHOLARSHIP TO MERITORIOUS In 2013, the ready-made garment industry of the

nation faces one of its severest tragedies. On
STUDENTS April 24, 2013, an eight-story building in Savar
HOPES (Helping Organization for Promising and collapsed, killing over 1,100 garment factory
Energetic Students) runs a scholarship Program for workers inside, and injuring hundreds of others.
meritorious students. Renata Limited sponsored students Renata provided support to the victims of this
for studying Medicine under the aegis of this program. tragedy and their families.
Through HOPES, Renata Limited sponsors students who
would otherwise not be able to pursue a degree in In 2009, Cyclone Aila attacked offshore 15
Medicine districts of south-western part of Bangladesh,
killing about 150 persons and destroying 2 lac
D) WOMEN’S EMPOWERMENT houses and 3 lac acres of cultivated land and
On March 26, 2012, Wasfia Nazreen reached the summit crops.
of Mount Everest – the youngest person from Bangladesh
and the first one-woman from our country to ever do so. In 2019, Cyclone Bulbul caused severe flooding
and storm surge in the country, with approximately
Renata continued to support her in her quest to be the first
72,000 metric tons of crops being lost, with a total
Bangladeshi to climb the Seven Summits.
value of Tk 2.6 billion (US$31 million).
In both instances, Renata Ltd stood beside the
In 2015, Wasfia Nazreen became the first Bangladeshi to
Bangladesh government in its relief program and
scale all the seven summits. Earlier, Renata supported her
provided generous aid to the victims of the
expeditions to Mount Elbrus and Everest, Carstenz
disaster.
Pyramid, the final climb of her seven summits expedition
was also sponsored by us.
In 2020, Bangladesh was thrown into a crisis
brought by the global pandemic covid-19. It
E) FINANCIAL ASSISTANCE TO brought a crisis to the national economy and the
impact was severe on people who survive on daily
EX- EMPLOYEES AND THEIR wages. Due to the country wide lock down, many
CHILDREN lost their sources of income and had to live
Renata Limited has providing financial assistance to its without wages for days.
ex-employees and their children since its inception. Every
year, a substantial portion of Renata Limited’s total CSR Renata reached out to these disadvantaged
expenditure is set aside for the financial assistance of groups in various ways. The 19 Depot offices and
ex-employees and their children. production factory sites of Renata, located in
different parts of Bangladesh, arranged daily
meals for these unfortunate victims of the lock
F) TREATMENT FOR DOCTORS WITH down, saving them from starvation.
LIFE-THREATENING ILLNESS Renata also made donations to the Hospitals who
Renata Limited continues to fund treatment for patients are providing free Covid-19 treatment to the
diagnosed with cancer and other life-threatening illnesses. general people.
In addition to the above, Renata has provided

G) NATIONAL EMERGENCY financial assistance to victims of national crisis
Renata Limited has extended financial support in times of natural calamities in many instances and resolves
any national emergency. to do so in the future.

•45
PHARMACEUTICAL PRODUCTS:
ANTIMICROBIALS:
Trade Name Generic Name Formulation Strength Pack Size

Bactipront Co-Trimoxazole Tablet 480mg 10x10’s
Bactipront Co-Trimoxazole Tablet 960mg 10x10’s
Bactipront Co-Trimoxazole Oral Suspension 240mg/5ml Bottle 60ml
Bactamox Amoxicillin Trihydrate Tablet 250mg 10x10’s
Bactamox Amoxicillin Trihydrate Tablet 500mg 5x10’s
Bactamox Amoxicillin Trihydrate Ped. Drops 125mg/1.25mL Bottle 15ml
Bactamox Amoxicillin Trihydrate DPS 125mg/5ml Bottle 100ml
Bactamox IM/IV Amoxicillin Trihydrate Injection 500mg 1’s
Cebuten Ceftibuten Dihydrate Capsule 400mg 2x4’s
Ceftizone IM Ceftriaxone Injection 250mg Vial 250mg
Ceftizone IM Ceftriaxone Injection 500mg Vial 500mg
Ceftizone IM Ceftriaxone Injection 1gm Vial 1gm
Ceftizone IV Ceftriaxone Injection 250mg Vial 250mg
Ceftizone IV Ceftriaxone Injection 500mg Vial 500mg
Ceftizone IV Ceftriaxone Injection 1gm Vial 1gm
Ceftizone IV Ceftriaxone Injection 2gm Vial 2gm
Ceftipime Cefepime HCL Injection 500mg Vial 500mg
Ceftipime Cefepime HCL Injection 1gm Vial 1gm
Ceftipime Cefepime HCL Injection 2gm Vial 2gm
Cefotax IM/IV Cefotaxime Sodium Injection 250mg Vial 250mg
Cefotax IM/IV Cefotaxime Sodium Injection 500mg Vial 500mg
Cefotax IM/IV Cefotaxime Sodium Injection 1gm Vial 1gm
Cefazid IM/IV Ceftazidime Injection 250mg Vial 250mg
Cefazid IM/IV Ceftazidime Injection 500mg Vial 500mg
Cefazid IM/IV Ceftazidime Injection 1gm Vial 1gm
Covan Vancomycin Injection 500mg Vial 500mg
Covan Vancomycin Injection 1g Vial 1g
Doxicap Doxycycline Hydrochloride Capsule 50mg 5x10’s
Doxicap Doxycycline Hydrochloride Capsule 100mg 10x10’s
Diamine Penicillin Benzathine Pen. G Injection 12,00,000 units Vial 12 lac units
Erythrox Erythromycin Stearate Tablet 250, 500mg 5x10’s
Erythrox Erythromycin Ethyl-succinate DPS 125mg/5ml Bottle 100ml
Erpen IM/IV Ertapenem Injection 1gm 1X1'S
Furocef IM/IV Cefuroxime Sodium Injection 250, 750mg Vial 250, 750mg
Furocef IM/IV Cefuroxime Sodium Injection 1gm Vial 1gm
Furocef IV/IM Cefuroxime Sodium Injection 1.5gm Vial 1.5gm
Furocef Cefuroxime Axetil Tablet 125mg 2x5’s
Furocef Cefuroxime Axetil DPS 125mg/5ml Bottle 70ml
Flontin Ciprofloxacin Hydrochloride Tablet 250mg 2x10’s
Flontin Ciprofloxacin Hydrochloride DPS 250mg/5ml Bottle 60ml
Flontin IV Ciprofloxacin Lactate IV Infusion 2mg/ml Vial 100ml
Flustar Flucloxacillin Sodium Capsule 250mg 12x4’s
Flustar Flucloxacillin Sodium Capsule 500mg 7x4’s
Fluster Flucloxacillin sodium Dry syrup 100 ml 1x1's
Furoclav Cefuroxime 500mg + Clavulanic Acid 125 mg Tablet 500mg 2x4’s
Furoclav Cefuroxime 250mg + Clavulanic Acid 62.5 mg Tablet 250mg 2x6’s
Iropen IV Imipenem/Cilastatin Injection 500mg Vial 500mg
Levoking Levofloxacin Hemihydrate Tablet 500mg 5x6’s
*DPS= Dry Powder for Suspension

Levoking Levofloxacin Hemihydrate Tablet 750mg 3x6’s
Levoking Levofloxacin Hemihydrate Oral Solution 125mg/5ml Bottle 100ml
Meropen IV Meropenem Injection 250mg Vial 250mg
Meropen IV Meropenem Injection 500mg Vial 500mg
Meropen IV Meropenem Injection 1gm Vial 1gm
Orcef Cefixime Tablet 200mg 2x6’s
Orcef Cefixime Tablet 400mg 2x6’s
Orcef Cefixime DPS 100mg/5ml Bottle 70ml/50ml/40ml/30ml
Orcef DS Cefixime DPS 200mg/5ml Bottle 50ml
Orcef Cefixime Capsule 200mg 2x8’s
Orcef Cefixime Capsule 400mg 2x6's
Palcef Cefdinir Capsule 300mg 2x5’s
Palcef Cefdinir DPS 125mg/5ml Bottle 60ml
Palcef DS Cefdinir DPS 250mg/5ml Bottle 30ml
Polycef Cephradine Capsule 250mg 5x4’s
Polycef Cephradine Capsule 500mg 7x4’s
Polycef Cephradine DPS 125mg/5ml Bottle 100ml
Polycef DS Cephradine DPS 250mg/5ml Bottle 100ml
Polycef Cephradine Injection 250mg Vial 250mg
Polycef Cephradine Injection 500mg Vial 500mg
Polycef Cephradine Injection 1g Vial 1g
Polycef PD Cephradine Paed. Drops 125mg/1.25ml Bottle 15ml
Pronapen Procaine penicillin + Penicillin G Injection 4,00,000 units Vial 4 lac &
8,00,000 units Vial 8 lac units
Qcin Clindamycin Capsule 150mg 5x6’s
Qcin Clindamycin Injection 300mg/2ml 1x5’s
Qcin Clindamycin Capsule 300mg 5x6’s
Qcin Clindamycin Injection 600mg/4ml 1x5’s
Renamycin Oxytetracycline Capsule 250mg 60’s
Renamycin Oxytetracycline Injection 50mg/ml Vial 10ml
Relexid Pivmecillinam Tablet 200mg 3x10’s
Trucef Cefpodoxime Proxetil DPS 40mg/5ml Bottle 50ml
Trucef DS Cefpodoxime Proxetil DPS 80mg/5ml Bottle 50ml
Trucef PD Cefpodoxime Proxetil Ped. Drops 20mg/ml Bottle 15ml
Tazopen Piperacillin + Tazobactam IV Infusion 2.25gm 1x1's
Tazopen Piperacillin + Tazobactam IV Infusion 4.5gm 1x1’s
Toplon Gemifloxacin Tablet 320mg 1x6’s
Vcap Neomycin Sulphate+ Polymyxin B Soft Gelatin 35000 I.U.+ 35000 I.U. 1x6’s
Sulphate+ Nystatin+Metronidazole Capsule 100000 I.U.+ 200mg
Zithrin Azithromycin Capsule 250mg 3x5’s
Zithrin Azithromycin Tablet 250mg, 500mg 3x5’s
Zithrin Azithromycin DPS 200mg/5ml Bottle 15ml/20ml/30ml/35ml/50ml
Zithrin Azithromycin IV Infusion 500mg Vial 500mg
ANTI-HYPERTENSIVE
Cardipin Amlodipine Tablet 5mg 6x10’s
Cardipin Plus Amlodipine+Atenolol Tablet 5mg+50mg 6x10’s
Alphapress Prazosin Hydrochloride Tablet 1mg & 2mg 10x10’s
Alphapress XR Prazosin Hydrochloride Tablet 2.5mg & 5mg 3x10’s
Ostan Losartan Potassium Tablet 25mg, 50mg 3x10’s, 5x10’s
Ostan Plus Losartan Potassium+ Hydrochlorothiazide Tablet 50mg+12.5mg 3x10’s
Plagrin Clopidogrel Tablet 75mg 3x10’s
Plagrin Plus Clopidogrel+ Aspirin Tablet 75mg+75mg 3x10’s
Pendoril-2 Perindopril Tablet 2mg 2x10’s
•47
ANTI-HYPERTENSIVE
Pendoril-4 Perindopril Tablet 4mg 2x10’s
Pendoril Plus-2 Perindopril + Indapamide Tablet 2mg + 0.625mg 2x10’s
Pendoril Plus-4 Perindopril + Indapamide Tablet 4mg + 1.25mg 2x10’s
Bisoren-2.5 Bisoprolol Fumarate Tablet 2.5mg 3x10’s
Bisoren-5 Bisoprolol Fumarate Tablet 5mg 3x10’s
Bisoren Plus 2.5 Bisoprolol+Hydrochlorothiazide Tablet 2.5mg+6.25mg 3x10's
Bisoren Plus 5 Bisoprolol+Hydrochlorothiazide Tablet 5mg+6.25mg 3x10's
Uritone-20 Furosemide+ Spironolactone Tablet 20mg + 50mg 3x10’s
Uritone-40 Furosemide+ Spironolactone Tablet 40mg + 50mg 3x10’s
Azisan Azilsartan Medoxomil Potassium Tablet 40mg, 80mg 2x10’s, 1x10's
Azisan Plus Azilsartan + Chlorthalidone Tablet Azilsartan 40mg + 10's
Chlorthalidone 12.5mg
Alphapress XR Prazosin Hydrochloride Tablet 2.5mg 3x10’s
Alphapress XR Prazosin Hydrochloride Tablet 5mg 3x10’s
ANTI-ANGINA
Antogin ER Ranolazine Tablet 500mg 4X5's
Trizedon MR Trimetazidine Dihydrochloride Tablet 35mg 3x10’s
LIPID LOWERING AGENT
Taven Atorvastatin Tablet 10mg/20mg/40mg 3x10’s
Fenobate Fenofibrate Capsule 200mg 5x6’s
Rolip Rosuvastatin Calcium Tablet 5mg, 10mg 3x10’s
ANTI-DIABETIC
Bigmet-500 Metformin HCL Tablet 500mg 10x10’s
Bigmet-850 Metformin HCL Tablet 850mg 10x10’s
Bigmet 500 XR Metformin HCL Tablet 500mg 5x6’s
Glicron CR Gliclazide CR pellets Capsule 30mg 3x10’s
Glicron Gliclazide Tablet 80mg 3x10’s
Glinta Linagliptin Tablet 5 MG 2X10'S
Sitamet Metformin+Sitagliptin Tablet 500mg+50mg 1x10’s
HAIR REGROWTH
Regain 5% Minoxidil Solution 5% 60ml
Regain 2% Minoxidil Solution 2% 60ml
EYE-EAR AND TOPICAL PREPARATIONS

Renamycin Eye/ Oxytetracycline HCL + Ointment 5mg/gm 3.5gm
Ear ointment Polymyxin-B-Sulfate
Renamycin Oxytetracycline HCL + Solution 5mg/ml Vial/Bottle 5ml
otic Solution Benzocaine
Renamycin Oxytetracycline HCL + Topical ointment 30mg/gm Tube 5gm
topical Oint. Polymyxin-B-Sulfate
Deltasone-N Eye/ Prednisolone + Neomycin Drops 0.5% Bottle 5ml
Ear drops
ANTIGOUT
Feburen Febuxostat Tablet 40mg 3x10’s
Feburen Febuxostat Tablet 80mg 1x10’s
NSAIDS
Cartilage Max Glucosamine Sulfate+Diacerein Tablet 750mg+50mg 3x10’s
Ceclofen Aceclofenac Tablet 100mg 5x10’s
Dysmen Mefenamic Acid Tablet 250mg 10x10’s
Dysmen Mefenamic Acid Tablet 500mg 5x10’s
Rolac Ketorolac Tablet 10mg 4x14’s

Rolac Ketorolac Injection 10mg/1ml 1x 5’s
Rolac Ketorolac Injection 30mg/1ml 1x6’s
Rolac Ketorolac Injection 60mg/2ml 1x2’s
Recox Etoricoxib Tablet 120mg 2x10's
Cartilage Plus Gulcosamine Sulfate+ Tablet 250mg+200mg 5x6’s
Chondroitin Sulfate
Xenapro 250 Naproxen Tablet 250mg 5x10’s
Xenapro 500 Naproxen Tablet 500mg 5x6’s
Xenapro Plus 375 Naproxen 375mg + Esmeprazole 20mg Tablet 375mg 3x10’s
Xenapro Plus 500 Naproxen 500mg + Esmeprazole 20mg Tablet 500mg 5x6’s
Rapidol Tramadol Hydrochloride Injection 100mg/2ml 1x5’s
Maxolax Baclofen Tablet 10mg 3x10’s
Maxolax Baclofen Tablet 5mg 3x10’s
ANTIULCER AGENTS
Prazole Omeprazole Capsule 20mg 6x10’s
Maxpro Esomeprazole Tablet 20mg 10x14’s
Maxpro Esomeprazole Tablet 40mg 4x10’s
Maxpro Esomeprazole Capsule 20mg 10x10’s
Maxpro Esomeprazole Capsule 40mg 10x6’s
Maxpro Esomeprazole Injection 40mg 1x1’s
Maxpro HP Esomeprazole+Amoxicillin+ Capsule+Tablet+ 20mg+500mg+ 14x4’s
Clarithromycin Tablet 500mg
Protonil Pantoprazole Tablet 20mg 5x10’s
Protonil Pantoprazole Tablet 40mg 3x10’s
Profast Rabeprazole Tablet 20mg 6x10's
ANTI-PARASITIC & ANTI-PROTOZOAL AGENTS

Xanita Nitazoxanide Tablet 500mg 3x6’s
Xanita Nitazoxanide DPS 100mg/5ml Bottle 30ml
Xanita Nitazoxanide DPS 100mg/5ml Bottle 60ml
Delentin Pyrantel Pamoate Tablet 125mg 10x10’s
Delentin Pyrantel Pamoate Suspension 50mg/ml Bottle 10ml
Alentin Albendazole Tablet 200mg 2x40’s
Alentin DS Albendazole Tablet 400mg 1x 25’s
Protogyn Tinidazole Tablet 500mg 10x10’s
Protogyn Tinidazole Tablet 1gm 5x4’s
ANTI-FUNGAL AGENT
Lucan-R Fluconazole Capsule 50mg 4x10’s
Lucan-R Fluconazole DPS 50mg/5ml Bottle 35ml
Conasyd Tioconazole Cream 1% dermal Tube 10gm
ANTI-TUBERCULOSIS AGENT
Streptomycin Streptomycin Sulfate Injection 1gm Vial 1gm
ANTI-SPASMODIC
Algin Tiemonium Tablet 50mg 10x10’s
Algin Tiemonium Injection 5mg/2ml 1x5’s
Algin Tiemonium Syrup 10mg/5ml Bottle 100ml
•49
STEROID
Deltasone Prednisolone Tablet 5mg 25x10’s, 50x10’s
Deltasone Prednisolone Tablet 10mg 10x10’s
Deltasone Prednisolone Tablet 20mg 5x10’s
Deltasone Prednisolone Oral Solution 5mg/5ml Bottle 100ml
Deltasone Prednisolone Oral Solution 5mg/5ml Bottle 50ml
Dexa Dexamethasone Tablet 0.5mg 25x10’s
Dexa IM/IV Dexamethasone Injection 5mg/ml 10’s
ANTI-OSTEOPOROTIC
Ivana Ibandronic Acid Tablet 150mg 1’s
VITAMINS & MINERALS

Beconex Vitamin B-Complex Syrup - Bottle 100ml
Beconex Vitamin B-Complex Syrup - Bottle 200ml
Beconex ZI Iron+Vitamin B-Complex & Zinc Syrup - Bottle 100ml
Becosules Vitamin B-Complex + Vit-C Capsule - 16x6’s
Becosules Gold Vitamin B-Complex + Vit-C Capsule - 15x6’s
Chewrol Iron + Folic Acid Chewable Tablet 100mg + 350mcg 5x6’s
Calcin Calcium Carbonate Tablet 500mg 5x10’s
Calcin-D Calcium+Vit-D Tablet 500mg+200IU 6x10’s, Pot 15’s, Pot 30’s
Calcin-O Calcium Orotate Tablet 400mg 3x10's
Calcin-O DS Calcium Orotate Tablet 740mg 3x10's
Calcin-O KIT Ibandronic Acid + Calcium Orotate Tablet 150mg+400mg 1 Kit
Calcin-M Calcium Carbonate+Vit-D+Mineral Tablet - 4x10’s, Pot 30’s
Calciferol Cholecalciferol IM Injection 200000 IU/ml 1’s
Calcifer Calcium Lactate+Calcium Carbonate+ Effervescent 1000mg+327mg+ 10’s
Ascorbic Acid 500mg
Coralcin-D Tablet Calcium (Coral source) & Vitamin D3 Tablet 500mg+200IU 6x10’s
E-Gel Vitamin E Soft Gelatin Capsule 200mg 10x10’s
E-Gel DS Vitamin E Soft Gelatin Capsule 400mg 5x10’s
Ferix Carbonyl Iron, Folic Acid and Zinc Capsule 50mg+500mcg+22.5mg 6x10’s
Kiddi Multivitamin+Codliver oil Syrup - Bottle 100ml
Kiddi Multivitamin+Codliver oil Syrup - Bottle 200ml
Lucent Calcitriol Soft Gelatin Capsule 0.25mcg 3x10’s
Pushtikona Micronutrient Powder Powder in Sachet - 1x30’s
Sprinkles Micronutrient Powder Powder in Sachet - 1x30’s
Mazic 20 Zinc Sulfate Monohydrate Tablet 20mg 3x10’s
Mazic Jr Zinc Sulfate Monohydrate Syrup 4.05mg/5ml Bottle 100ml
Mazic Zinc Sulfate Monohydrate Syrup 10mg/5ml Bottle 100ml
Mazic DS Zinc Sulfate Monohydrate Syrup 20mg/5ml Bottle 100ml
Magsum Magnesium Sulfate Injection 2.5g /5ml 1x5 Ampoules
Neurobest Vit B1+B6+B12 Tablet 100mg+200mg 6x10’s
+200mcg
Neurobest Vit B1+B6+B12 Injection 100mg+100mg 2x5’s
+1mg
Vita D3 Cholecalciferol Capsule 40000 IU 2X5'S
Vita D3 Cholecalciferol Capsule 20000 IU 2X5'S
ANTI-ALLERGIC
Fenadin Fexofenadine HCL Tablet 60mg 3x10’s
Fenadin Fexofenadine HCL Suspension 30mg/5ml Bottle 30ml
Fenadin Fexofenadine HCL Suspension 30mg/5ml Bottle 50ml
Stark Rupatadine Tablet 10mg 3x10’s

CNS-PRODUCT
Gaba Gabapentin Tablet 300mg 3x10’s
Gaba-P Pregabalin Capsule 25mg 5x6's
Gaba-P Pregabalin Capsule 50mg 3x10's
Gaba-P Pregabalin Capsule 75mg 3x10’s
Renxit Flupentixol+Melitracen Tablet 0.5mg+10mg 10x10’s
Norry Bromazepam Tablet 3mg 5x10’s
Cabretol Carbamazepine Tablet 200mg 5x10’s
Cabretol Carbamazepine CR Capsule 200mg 5x10’s
Cabretol Carbamazepine Syrup 100mg/5ml Bottle 100ml
Sperid Risperidone Tablet 1mg 5x10’s
Sperid Risperidone Tablet 2mg 5x10’s
Denixil Clonazepam Tablet 0.5mg, 2mg, 1g 5x10’s, 3x10’s, 5x10’s
Midzo Midazolam Tablet 7.5mg 3x10’s
Midzo Midazolam Injection 15mg/3ml 1’s
HORMONE
Normens Norethisterone Acetate Tablet 5mg 10x10’s
Bredicon Desogestrel Tablet 75mcg 1x28’s
Criptine Bromocriptine Mesilate Tablet 2.5mg 1x30’s
Emcon 1 Levonorgestrel Tablet 1.5mg 1x1’s
Letrol Letrozole Tablet 2.5mg 2x5’s
Ovulet 50 Clomiphene Citrate Tablet 50mg 1x10’s
Ovulet 100 Clomiphene Citrate Tablet 100mg 1x5’s
Medrogest Medroxyprogesterone Acetate Tablet 5mg, 10mg 3x10’s
Thyrox 50 Levothyroxine Sodium Tablet 50mcg 3x30’s
Menorest Tibolone Tablet 2.5mg 1x28’s
Desolon Desogestrel+Ethinylestradiol Tablet 0.15mg+0.03mg 1x21’s
Giane 35 Cyproterone Acetate + Tablet 2.0mg+ 1x21’s
Ethinylestradiol 0.035mg
Nandron Nandrolone Phenylpropionate Injection 25mg/ml 1x5’s
Nandron Nandrolone Decanoate Injection 50mg/ml 1x1’s
Gestrenol Allylestrenol Tablet 5mg 5x10’s
Regumen Lynestrenol+Ethinylestradiol Tablet 2.5mg+0.05mg 1x21’s
Estracon Conjugated Estrogens Tablet 0.625mg 28’s
Microgest Natural Micronized Progesterone Capsule 100mg 3x10's
Novelon Drospirenone and Ethinylestradiol Tablet 3mg & 0.03mg 1x21's
Novelon lite Drospirenone and Ethinylestradiol Tablet 3mg & 0.02mg 1X24's
Danzol Danazol Capsule 100mg & 200mg 3 x10’s, 2x10’s
Cabolin Cabergoline Tablet 0.5mg 2x2’s
Indula Misoprostol Tablet 200mcg 3x10’s
Mif Mifepristone Tablet 200mg 1x3’s
Androcap Testosterone undecanoate Capsule 40mg 3X10’s
Gynova Micronized estradiol Tablet 2mg 3X10’s
5X Ulipristal Acetate Tablet 30mg 1’s
Mercazole Carbimazole Tablet 5mg 6X10’s
AB Kit Mifepristone+Misoprostol Tablet 200mg+200mcg 1X5’s
ANTI-CANCER
Proscan Flutamide Tablet 250mg 3x10’s
Sofenib Sorafenib Tablet 200mg 3x4’s
Erloren Erlotinib Tablet 100mg 1x7’s
Erloren Erlotinib Tablet 150mg 1x7’s
Tyrokin Imatinib Tablet 400mg 1x10’s
Tyrokin Imatinib Tablet 100mg 1x10’s
•51
OXYTOCIC
Arbecin Carbetocin IV Injection 1ml 1X1’s
Oxyton Oxytocin Injection 5 I.U. 1x10’s
ANTI-FIBRINOLYTICS
Xamic Tranexamic Acid Capsule 500mg 2x10’s
Xamic Tranexamic Acid Injection 500mg/5ml 1x5’s
ANTI-ASTHMA
Odmon Montelukast Chewable Tablet 4mg 3x10’s
Odmon Montelukast Tablet 5mg 3x10’s
Odmon Montelukast Tablet 10mg 3x10’s
Pulmino Doxofylline FC Tablet 400 MG 5X6'S
Pulmino Doxofylline FC Tablet 200 MG 5X6'S
Trulax Levosalbutamol Syrup 1mg/5ml Bottle 100ml
Totifen Ketotifen Tablet 1mg 10x10’s
Totifen Ketotifen Syrup 1mg/5ml Bottle 100ml
EXPECTORANT
Topex Guaiphenesin Pseudoephedrine Syrup 131.25mg/5ml Bottle 100ml
Recof Ambroxol Hydrochloride Syrup 15mg/5ml Bottle 100ml
Recof PD Ambroxol Hydrochloride Paed. Drops 6mg/ml Bottle 15ml
GASTROPROKINETIC AGENTS
Domiren Domperidone Tablet 10mg 15x10’s
Domiren PD Domperidone Paed. Drops 5mg/ml Bottle 15ml
Domiren Domperidone Suspension 5mg/5ml Bottle 60ml
ORAL REHYDRATION SALINE

Saline-R ORS Salt Powder 10.25gm/500 ml Sachet 20’s
NARCOTIC ANALGESIC
Fentanyl Fentanyl Citrate IV Injection 100mcg/2ml 1x5’s
ANTIPYRETIC/ ANALGESIC
Pyralgin Paracetamol Tablet 500mg 50x10’s
Pyralgin Paracetamol Suspension 120mg/5ml Bottle 60ml
Pyra Plus Paracetamol+Caffeine Tablet 500mg+65mg 15x10’s
AMINO ACID SUPPLEMENT

Protemin 5% Composite Amino Acid IV Infusion - Bottle 500ml
Solution with D-sorbitol
ANTIEMETIC
Emeren Ondansetron Tablet 4mg 3x10’s
Emeren Ondansetron Tablet 8mg 3x10’s
Emeren Ondansetron Injection 8mg/4ml 1x5's
Emeren Ondansetron Syrup 4mg/5ml Bottle 50ml
ANESTHETIC
Neos-R Neostigmine Injection 5ml, 1ml 1x5’s
Kain Ketamine Injection 50mg/ml 1’s
Sivicaine Heavy Bupivacaine+Dextrose Injection 5mg+80mg 1x5’s
Epidron Ephedrine Injection 5mg 1x5’s
ANTIVIRAL
Enteca Entecavir Tablet 0.5mg 1x10’s
Buviren Sofosbuvir Tablet 400mg 1x6’s

OTHERS
Erecta Sildenafil Tablet 50mg 1x4’s
Erecta Sildenafil Tablet 100mg 1x4’s
EAZY JELLY Hydroxyethyl Cellulose Lubricant 50g Tube 1'S
& Glycerine
Feristar Iron Sucrose Injection 100mg Iron/5ml 1’s
Honycol Liquid Sugar & Glycerol Linctus (0.75 ml+1.93 ml)/5ml Bottle 100ml, 200ml
Mez IV Metronidazole IV Infusion 0.5% W/V Bottle 100ml
Normanal Diosmin + Hesperidin Tablet 450mg + 50mg 3x10’s
Phenocept Mycophenolate Mofetil Tablet 500mg 3x10’s
Tegarid Tegaserod Tablet 6mg 3x10’s
Tolter Tolterodine Tartrate Tablet 1mg & 2mg 3x10’s
Tritin Trimebutine Maleate Tablet 100mg 3x10's
LEDOMIDE Lenalidomide Capsule 25mg 2x6's
ANIMAL HEALTH PRODUCTS

ANTIBIOTIC
Renamycin AF Tablet Oxytetracycline USP Tablet 500mg 5 x 4’s
Renamycin Injectable Solution Oxytetracycline USP Injection 50mg/ml 10ml
Renamycin-100 with PVP Oxytetracycline USP Injection 100mg/ml 10ml, 100ml
Renamycin LA Oxytetracycline USP Long Acting Injection 200mg/ml 10ml
Pronapen 40 lac Procaine Penicillin BP Injection 3MIU+1MIU Vial 40 lac
Benzyl Penicillin Sodium
Streptopen Procaine Penicillin BP Injection 1.5MIU+ Vial 0.5g, 2.5g
Benzyl Penicillin Sodium 0.5MIU+2.5gm
Streptomycin USP
Gentaren Gentamicin Sulphate Injection 100mg/ml 10ml & 100ml
Renamox Amoxycillin Tablet 500mg 2x10’s
Tilmisin Tilmicosin Solution 25mg 100ml
CEPHALOSPORIN
Renacef Ceftriaxone Injection 1gm, 2gm Vial 1gm & 2gm
Ceftiren Ceftiofur Sodium Injection 0.5gm, 1gm Vial 0.5gm & 1gm
SULPHONAMIDES
Diadin Sulphadimidine Sodium BP Injection 333mg/ml 30ml, 100ml
Diadin Sulphadimidine BP Bolus 5gm 10 x 2’s
Sulpha -3 Sulphadiazine USP Bolus 1.666gm+ 10 x 2’s
Sulphadimidine BP 1.666gm+
Sulphapyridine USP 1.666gm
Renatrim Sulphadiazine + Trimethoprim Bolus 1000mg+200mg 10 x 2’s
ANTHELMINTIC
Helmex Albendazole USP Tablet 600mg 5 x 4’s
Nitronex 34% Nitroxynil BP Injection 340mg/ml 10ml, 30ml
Tremacid Oxyclozanide BP Tablet 1000mg 5 x 4’s
Renadex Triclabendazole + Tablet 900mg+600mg 10 x 2’s
Levamisole
ANTIPROTOZOAL
Ectorid Imidocarb Dipropionate Injection 133.26mg/ml 10ml
Renamet Bolus Metronidazole Bolus 2gm//Bolus 5 x 4’s
ANTI-HISTAMINIC
Dellergen Promethazine HCL USP Injection 50mg/ml 10ml
Dellergen Promethazine HCL USP Bolus 150mg/Bolus 10 x 4’s
Renacin Chlorpheniramine Maleate Injection 10mg/ml 10ml, 100ml
•53
Trade Name Generic Name Formulation Strength Pack
NSAID
Renafen Ketoprofen Injection 100mg/ml 10ml
Pyralgin Paracetamol Tablet 2gm 10 x 2’s
Fevenil Tolfenamic Acid Injection 40mg/ml 10ml
Renaspirin Carbasalate Calcium & Ascorbic Acid Powder 7.632g & 0.748 g/10gm 10g, 100g
Melocam Meloxicam Injection 0.5g/100ml 10ml
Melocam Meloxicam Bolus 100mg/Bolus 10 x 4’s
GLUCOCORTICOID
Predexanol-S Prednisolone Anhydrous USP Injection 7.5mg+2.5mg/ml 10ml
Dexamethasone Trimethyl
Acetate USP
APPETIZER & RUMENOTORIC

Anorexon Cobalt Sulphate BP Tablet 50mg+ 15 x 4’s
Dried Ferrous Sulfate USP 100mg+
Thiamine Mononitrate USP 25mg+
Vitamin B12 USP 20mcg+
Choline Bitartrate BP 9.1mg
Anorexon DS Cobalt Sulphate BP Bolus 100mg+ 10 x 4’s
Dried Ferrous Sulfate USP 200mg+
Thiamine Mononitrate USP 50mg+
Vitamin B12 USP 40mcg+
Choline Bitartrate BP 18.2mg
Rumenton Antimony Potassium Tartrate USP Bolus 2gm+2gm 10 x 2’s
Ferrous Sulphate USP
Stomavet Ammonium Bi-carbonate BP Powder 5gm+ 20g x 20
Nuxvomica Powder BP 1.4gm+
Sodium Bi-carbonate BP 13gm+
Gentian Powder BP 0.3gm+
Ginger Powder BP 0.3gm/20gm
METABOLIC
Cal-D-Mag Calcium Gluconate USP Injection 20.8+20.0+5.0+0.1mg/ml 200ml, 500ml
Dextrose USP
Magnesium Hypophosphate BP
Chlorocresol (as preservative) BP
Vitaphos Toldimphos Injection 200mg+0.05mg/ml 30ml
Cyanocobalamine (Vit B12) BP
Catophos Butaphosphan Injection 100mg+0.05mg/ml 100ml, 30ml
Cyanocobalamine (Vit B12) BP
Levabon Rumen E Saccharomyces Cerevisiae Powder 100cfu/gm 20kg
Rumen E Saccharomyces Cerevisiae Powder 100cfu/gm 100g
DCAD Minus Magnesium sulphate Powder 50% & 32.5% 1 Kg
Aluminium sulphate
Cal-Boost gel Ionic calcium & Gel 43.5gm & 300 ml
magnesium supplement 2.5gm/300ml
HORMONE PRODUCTS
Ovurelin Gonadorelin (as Acetate) Injection 100mcg/ml 20ml
Ovuprost Cloprostenol (as Sodium) Injection 250mcg/ml 20ml
VITAMIN-MINERAL INJECTION
Hemovit Iron+Copper+ Injection 15mg+0.2mg+ 10ml
cobalt+Vitamin B-complex 0.7mg+202.86mg/ml
Renasol AD3E Vitamin A, D3 & E Injection 0.5MIU+0.075MIU+ 10ml, 30ml
50mg/ml & 100ml

POULTRY PRODUCTS
Enrocin Enrofloxacin Oral Solution 100mg/ml 100ml, 1L
Micronid Erythromycin Thiocyanate Powder 180mg+150mg+30mg/gm 10g, 100g
Sulphadiazine USP
Trimethoprim USP
Sultrik Sulfachloropyridazine+ Powder 100mg+20mg/gm 100g
Trimethoprim
Mycostop Tylosin BP Powder 200mg/gm 100g, 1kg
Doxivet Doxycycline USP Powder 100mg/gm 100g
Renatrim Sulphadiazine BP Suspension 400mg+80mg/ml 100ml
Trimethoprim BP
Renamox 15% Amoxycillin Powder 150mg/gm 100g, 500g, 1kg
Renamox 30% Amoxycillin Powder 300mg/gm 100g, 500g, 1kg
Renaquine 10% Flumequine INN Powder 100mg/gm 100g
Renaquine 20% Flumequine INN Liquid 200mg/ml 100ml
Renagard 45% Tiamulin Hydrogen Fumarate Powder 450mg/gm 100g
Renaflox Ciprofloxacin Powder 200mg/gm 100g
Renaflox Ciprofloxacin USP Oral solution 100mg/ml 100ml
Myco-Out Erythromycin Estolate USP Water soluble powder 36mg/gm 100g
Neomycin Sulphate USP 51.50mg/gm
Sulphadimidine Sodium BP 107.90mg/gm
Trimethoprim USP 18mg/gm
Bromhexine Hydrochloride BP 1.66mg/gm
ANTHELMINTIC
Avinex Levamisole HCL USP Powder 300mg/gm 10g, 100g
ANTI-COCCIDIAL
Coxicure Sulphaclozine Sodium Powder 300mg/gm 100g
Monohydrate INN
Renazuril Suspension Toltrazuril Suspension 25mg/ml 100ml
ELECTROLYTE
Renalyte Vitamin A Powder 2MIU+ 1kg
Sodium Bi-carbonate BP 500gm+
Sodium Chloride BP 266gm+
Dextrose BP 179.6gm+
Potassium Chloride BP 50gm/kg
ORT Calf Sodium chloride, Citric Oral saline 40.13%, 2.43%, Paired sachet
acid, potassium citrate, 0.6% & 20.7% A 9.72g &
potassium monophosphate B 22.31g
NUTRITION PRODUCTS
Rena WS Vit B Complex+A+ Powder 111.52+0.1MIU+ 10g, 50g,
D+E+C 0.025MIU+20mg 100g,1kg
+300mg/gm
Rena B+C Vitamin B Complex & Vit. C Powder 22.12mg+5mg/gm 100g, 500g, 1kg
Rena C Ascorbic Acid Powder 999.00mg/gm 100g, 1kg
Rena K Menadione Sodium bisulphite Powder 100mg/gm 10g
Renasol AD3E Vitamin A, D3 + E Oral Solution 0.1MIU+0.02MIU 100ml, 1L
+20mg/ml
Renavit DB Vitamin & Mineral Premix Powder 100g, 500g, 1kg
Renavit DB Plus Vitamin, Mineral & Amino Acid Premix Powder 1kg
Rena Sel-E Vitamin E + Selenium Oral Solution 80mg+0.6mg/ml 100ml, 1L
NUTRITIONAL PREMIX
Rena Breeder Vitamin+Mineral Powder 44.99gm+68.42gm/kg 2.5kg
Rena Broiler Vitamin+Mineral Powder 41.73gm+72.38gm/kg 2.5kg
•55
Rena Grower Vitamin+Mineral Powder 31.06gm+52.36gm/kg 2.5kg
Rena Layer Vitamin+Mineral Powder 35.38gm+47.59gm/kg 2.5kg
Rena Fish Vitamin+Mineral Powder 43.75gm+53.55gm/kg 1kg
IMPORTED
Availa 4 Zinc+Manganese Powder 51.5mg+28.6mg 10gm,100gm
+Copper +18.0mg+1.8mg & 500gm
+Cobalt+AminoAcid +204.8mg/gm
Availa Z/M Zinc+Manganese Powder 40mg+ 500gm
Chealeted with AA 40mg/gm
Biotronic SE Formic Acid+Propionic Acid Powder 23mg+5mg/ml 25kg
Biotronic SE Forte Liquid Formic Acid+Propionic Acid+ Oral Solution 23mg+5mg+ 100ml, 1L
Lactic Acid 1mg/ml
Mycofix Plus 3.0 SBM+Epoxidase+Esterase+ Powder NA 1kg & 25kg
Phytogenic+Phycophytic
Mycofix Select 3.0 SBM+Epoxidase+ Powder NA 1kg & 25kg
Phytogenic+Phycophytic
Mycofix ECO 3.0 SBM+Phytogenic Powder NA 1kg & 25kg
Mycofix Secure Bentonite Powder 100% 25kg
Biomin Phytase 5000 Phytase Enzyme Powder 5000FTU/gm 25kg
Rena Phytase 400 Phytase Enzyme Powder 400FTU/gm 1kg
Lisovit Muramidase+Peroxidase+ Powder NA 10gm, 100gm
FOS+Vitamin E+C & 1kg
Vigest Vitamin+Mineral Oral Solution 3.58mg+0.078mg 500ml, 2L
+Amino Acid +67.33mg/ml
Poultry TMO Zinc+Manganese+ Powder 32mg+ 25kg
Copper+ 32mg+8mg+
Iron+Iodine+ 5mg+1.2mg+
Selenium+MHA 0.15mg+400mg/gm
Mintrex PSe Zinc+Manganese+ Powder 40mg+40mg+ 25kg
Copper+ 20mg+
Selenium+MHA 3mg+540mg/gm
Cibenza DP 100 Special Protease Enzyme Powder 0.6MIU/gm 25kg
Poultry Star Sol Pro & Prebiotic Powder NA 10gm
Poultry Star me Pro & Prebiotic Powder NA 25kg
NephCare Plus Nephrotonic Oral solution NA 100ml, 500ml
Digesterom PEP MGE Phytogenic Growth Promoter Powder NA 25kg
Digesterom PEP 125 Phytogenic Growth Promoter Powder NA 25kg
Ozinc Organic Zinc Solution 85mg/ml 100ml
Ren A Tox Liquid Toxin binder Solution NA 100ml, 1L
Rena Calp Calcium+Phosphorous Solution 24.02mg+8.39mg/ml 1L, 5L
Renaliv Herbal Liver Tonic Solution NA 1L
Respocare Herbal Expectorant Solution NA 100ml, 250ml
FAM 30 Iodophore Liquid 27.5mg/ml 100ml, 1L,
GPC8 Gluataraldehyde+QAC Liquid 120mg+40mg/ml 100ml, 1L
Shift Trisodium based Detergent Solution 113mg/ml 1L, 25L
Rena Cal-P Calcium Phosphate Water soluble powder 42mg/gm 500g & 1Kg
Monosodium Phosphate 15mg/gm
Vitamin C 6mg/gm
Vitamin B12 10mg/gm
Vitamin D3 400IU
Disodium Citrate 0.27mg/gm
Renazyme CS Xylanase, Cellulase, Solution 10000 IU, 200000 IU, 100ml
Beta-glucanase, Amylase, 1400 IU, 7000 IU,
Protease, Mannanase, 10 IU, 100 IU,
Pectinase 5 IU
Availa Zn 120 Zinc amino acid complex Powder 120mg/gm 100gmX10's
GasFree Saponin+Glycocompound Powder 100gmX10's
Heparen Choline chloride & Oral solution 3.5gm & 500 ml
Vitamin BT/ Levocarnitine 1gm /100 ml
Kol Suspension Activated Charcoal Oral solution 16.40% 500ml
VACCINES
LIVE VACCINES
IZOVAC Clone Attenuated NDV Lyophilized Clone 106 EID50 1000 Doses
IZOVAC Lasota Attenuated NDV Lyophilized Lasota 106 EID50 1000 Doses
IZOVAC H120 Clone Attenuated NDV & Lyophilized Clone 106 EID50 & 1000 Doses
Attenuated IBV H120 103 EID50
IZOVAC H120 Lasota Attenuated NDV & Lyophilized Lasota 106 EID50 & 1000 Doses
Attenuated IBV H120 103 EID50
IZOVAC Gumboro2 Attenuated intermediate IBDV Lyophilized Winterfield 2512 103 EID50 1000 Doses
IZOVAC Gumboro2 Attenuated intermediate Plus IBDV Lyophilized Winterfield 2512 102.7 EID50 1000 Doses
IZOVAC Marek HVT +Diluent Attenuated MDV serotype 3 Lyophilized Strain FC 126 1000 Doses
KILLED VACCINES
IZOVAC ND Inactivated NDV Injection Lasota 50PD50 1000 Doses
IZOVAC ND-EDS Inactivated NDV & Injection Lasota 50PD50 1000 Doses
Inactivated EDS virus EDS’76 108 EID50
IZOVAC ND-EDS-IB Inactivated ND virus, Injection NDV 50PD50 1000 Doses
Inactivated EDS virus & EDS’76 strain 127 &
Inactivated IB virus IBV strain M41, D274
& D1466 as per PhEu
IZOVAC Coryza3 Inactivated Infectious Injection Haemophilus 1000 Doses
Coryza (IC) Paragallinarum,
Serotype A 5x109 CFU,
Haemophilus
Paragallinarum,
Serotype B 5x109 CFU,
Haemophilus
Paragallinarum,
Serotype C 5x109 CFU,
IZOVAC ND-IBD Inactivated ND virus & Injection NDV 50PD50 & IBDV 1000 Doses
Inactivated IBD virus Winterfield 2512 RP≥ 1
AQUA PRODUCTS
Aquastar Pond Water Probiotic Powder NA 500gm, 1kg
Biomin Aquaboost Amino Acid Complex Powder NA 1000gm, 25kg
Hepa Protect Aqua Flavanoids Powder NA 100gm, 25kg
Oxy-Ren Sodium Carbonate Peroxhydrate Powder 130mg/gm 1kg
Aquastar grow out Gut Probiotic Powder NA 100gm
Levabon Aqua Saccharomyces cerevisiae Powder 1012 cfu/gm 100gmX5's
Oxy-Ren Sodium carbonate peroxyhydrate Tablet 130mg/gm tablet 1kg
Zeoren Alluminium sodium silicate Granular 750mg/gm 10kg
Gas Free Yucca Powder NA 100g
Ammorid Nitrifying & Denitrifying Liquid NA 1L
bacteria (Probiotics)
Realbind Binding Agent Liquid NA 1L
Ultipro Soil Probiotics Liquid NA 5L
Rena-C Aqua Ascorbic Acid Powder 99gm/100gm 1kg
•57
Renata Limited
Independent Auditor’s Report and
Audited Financial Statements
For the year ended 30 June 2020

Independent Auditor’s
Report to the shareholders of
Renata Limited
Report on the Audit of the Financial Statements
Opinion
We have audited the financial statements of Renata Limited, which comprise the statement of financial position as
at 30 June 2020 and the statement of profit or loss and other comprehensive income, statement of changes in
equity and statement of cash flows for the year then ended, and notes to the financial statements, including a
summary of significant accounting policies.
In our opinion, the accompanying financial statements give a true and fair view of the financial position of the
Company as at 30 June 2020 and its financial performance and of its cash flows for the year then ended in
accordance with International Financial Reporting Standards (IFRSs).
Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under
those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements
section of our report. We are independent of the Company in accordance with the International Ethics Standards
Board for Accountants’ Code of Ethics for Professional Accountants (IESBA Code), and we have fulfilled our other
ethical responsibilities in accordance with the IESBA Code. We believe that the audit evidence we have obtained
is sufficient and appropriate to provide a basis for our opinion.
Emphasis of Matter
We draw attention to note # 1.3 to the financial statements which describe the amalgamation of the fully owned
subsidiary Renata Oncology Limited with the Company. The Board of Directors of Renata Oncology Limited and
Renata Limited in their joint meetings held on 11 November 2019 and 13 November 2019 approved the
amalgamation of Renata Oncology Limited with the Company, whereby the Subsidiary will merge with the
Company and the Company shall be the surviving entity. Our opinion is not modified in respect of this matter. The
financial statements reflect financial result of the amalgamated entity.
Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of
the financial statements of the current period. These matters were addressed in the context of our audit of the
financial statements as a whole and in forming our opinion thereon and we do not provide a separate opinion on
these matters.
1. Revenue (Turnover)
See note # 23 to the financial statements
Key audit matters How the matters were addressed in our audit
ISAs require that, as part of our overall response to We performed walkthroughs of the revenue cycle at
the risk of fraud, when identifying and assessing the significant components to gain an understanding of
risks of material misstatement due to fraud, we when the revenue should be recognized, to map out
evaluate which types of revenue or revenue the relevant controls end to end and the processes in
transactions might give rise to potential fraud risks. place.
•59
The principal activities of the Company are We assessed the design and implementation of these
manufacturing, marketing and distribution of controls. We tested the sample of individual sales
pharmaceutical and animal health products across a transactions and traced to dispatch notes and
number of geographical areas in home and abroad. We subsequent cash receipt or other supporting documents.
have specifically focused this key audit matter to cut-off We have tested the design and operating effectiveness
and occurrence for revenue recorded within 30 June of key controls focusing on the following:
2020. Pressures to meet stakeholders’ expectations
• Calculation of discounts, incentives and rebates;
could provide incentives to record revenues where
• Segregation of duties in invoice creation
controls of the goods have not passed.
and modification;
• Timing of revenue recognition;
• Cross match sales order, sales invoices and
dispatch carefully.
We performed analytical reviews to identify any unusual
or one-off material revenue transactions. We identified
and considered the impact of any credit notes or
inventory returns occurring after year-end, including
evaluating the impact of any material overdue debts from
customers.
With regard to the implementation of IFRS 15 “Revenue

from Contract with Customers”, we verified
management’s conclusion from assessing different
types of contracts and the accuracy of the revised
accounting policies in light of the industry specific
circumstances and our understanding of the business.
We tested the appropriateness of the accounting
treatment on a sample basis. In addition, we verified the
accuracy of IFRS 15 related disclosures.
We were satisfied that the revenue recognition policies

have been applied appropriately. Based on the work
performed, we concluded that revenue has been
recorded appropriately.
2. Carrying value of investment in subsidiaries

How the matters were addressed in our audit
Key audit matter description
The company has invested in equity shares of its We have reviewed management’s analysis of impairment
subsidiaries namely Renata Agro Industries Limited, assessment and recoverable value of subsidiaries in
Purnava Limited, Renata (UK) Limited and Renata accordance with IAS-36.
Pharmaceuticals (Ireland) Limited. As at 30 June 2020
the carrying value of these investments are accordingly In particular, our discussions with management was
BDT 60,570,476 in Renata Agro Industries Limited, BDT focused on the continued appropriateness of the value in
2,499,900 in Purnava Limited, BDT 110 in Renata (UK) use model, the key assumptions used in the model, the
Limited and BDT 9,610 in Renata Pharmaceuticals reasonably possible alternative assumptions, particularly
(Ireland) Limited. where they had the most impact on the value in use
calculation.
At the time of audit of our financial statements of the
Company, we have considered the recoverable value of We also checked the mathematical accuracy of the
the Company’s investment in subsidiaries. valuation model, challenged the discount rate used within
the model, inputs used in the determination of assumptions
within the model were challenged and corroborating
information was obtained in reference to third party
sources.

3. Inventory
At the reporting date, the carrying value of inventory • Assessing the compliance of Company’s
amounted to Taka 5,126,624,240 which is 17.65% of accounting policies over inventory with applicable
total assets. Inventories were considered as a key accounting standards.
audit matter due to the size of the balance and
because inventory valuation involves management • Assessing the inventory valuation process and
judgment. practices. On major locations, we tested the
effectiveness of the key controls.
Inventory valuation and existence was an audit focus • Assessing the analyses made by management with
area because of the number of locations/stores that respect to slow moving and obsolete stock.
inventory was held at, and the judgment applied in the
valuation of inventory to incorporate inventory • Attending inventory count on 30 June 2020 and
shrinkage. reconciling the count results to the inventory listings
to test the completeness of data.
According to the Company’s accounting policy,
inventories are measured at the lower of cost or net • Comparing the net realizable value, obtained
realizable value. The Company has specific through a detailed review of sales subsequent to
procedures for identifying risk for obsolete items and the year-end, to the cost price of a sample of
measuring inventories at the lower of cost and net inventories.
realizable value. • Reviewing the historical accuracy of inventory
provisioning, and the level of inventory write-offs
during the year.
• Evaluating the correctness of the valuation of raw

materials and packing material as per FIFO
method.
• Reviewing the calculation of standard labor hours
and their regular comparison with actual labor
hours of production; and reviewing the process of
valuing work-in-progress.
We were satisfied that the inventory recognition and

measurement policies have been applied
appropriately. Based on the work performed, we
concluded that inventories have been recorded
appropriately.
4. Property, plant and equipment and capital work-in-progress

See note # 5 & 6 to the financial statements
At the reporting date, the carrying value of the • We obtained an understanding of the client and its
Company’s property, plant and equipment and environment to consider inherent risk related to
capital work- in- progress amounted to Taka property, plant, and equipment. Our understanding
11,753,639,042 and 1,914,471,284 respectively. includes:
The valuation of property, plant, and equipment was
identified as a key audit matter due to the > Obtaining an understanding of the internal
significance of this balance to the financial control over property, plant, and equipment.
statements, as well as the significance of
management’s judgments in determining its > Assessing the risks of material misstatement
valuation. and designing tests of controls and substantive
procedures that cover the following aspects:
•61
In considering the valuation of property, plant, and • Substantiate the existence of property, plant,
equipment, we focused on the assessment of the and equipment.
followings:
• Establish the completeness of recorded
• Inherent risks associated with property, plant and
property, plant, and equipment.
equipment.
• Verify the cut-off of transactions affecting
• Potential misstatements in property, plant, and
property, plant, and equipment.
equipment on account of frauds and errors.
• Assessment of useful lives of assets. • Establish the proper valuation or allocation of
• Assessment of impairment of assets. property, plant, and equipment and the
accuracy of transactions affecting property,
Inherent risks associated with property, plant and plant, and equipment.
equipment
• Determine the correctness and
• Property, plant and equipment may include assets appropriateness of classification of property,
that should have been derecognized following sale, plant and equipment.
other transfer of rights or abandonment or
impairment. • We obtained an understanding of the potential
misstatements in property, plant, and equipment on
• Expenditure that should have been recognized as account of frauds and errors.
property, plant and equipment but has not been so
recognized, including capitalized finance costs • We evaluated the assumptions made by
• Depreciation may have been incorrectly calculated. management in the determination of useful lives to
ensure that these are consistent with the principles of
• Potential misstatements in property, plant, and IAS 16. “Property, Plant and Equipment”.
equipment on account of frauds and errors
• We compared the useful lives of each class of asset
• Purchase of an asset at an inflated price especially in the current year to the prior year to determine
from a related party. whether there were any significant changes in the
useful lives of assets, and considered the
• Wrong write-off of the asset as scrap, obsolescence, reasonableness of changes based on our knowledge
missing, donated, or destroyed. of the business and the industry.
• Expenditures for repairs and maintenance recorded • We verified records e.g. contractor bills, work orders
as property, plant and equipment or vice versa. and certification of work performed by the specialized
personnel to ensure that the assets under
• Capitalization of expenditure which are not normally construction or pending installation and not yet ready
attributable to the cost of the property, plant and for intended use are classified as work- in- progress.
equipment.
• We also verified the date on which the assets are
• Recording of an asset purchased, which in effect has moved from the capital work- in- progress account to
not actually been received by the entity at all. the property, plant and equipment (the date on which
the asset is ready for intended use), so that the
Valuation of capital work- in-progress to PPE depreciation on property, plant and equipment has
Management needs to ensure that the assets under been computed correctly.
construction or pending installation and not yet ready for
intended use are classified as work- in- progress. An • We reconciled the movement of capital work- in-
appropriate system needs to put in place to capture all progress from opening to closing, specifically
directly identifiable costs, which can be capitalized, to be verifying additions during the year, capital assets
so accumulated to capital work- in- progress whilst completed during the year and impairment of any
expenses which are not eligible for being capitalized are opening capital work-in-progress items.
identified and charged to revenue in the normal course.

Assessment of useful lives of assets • We assessed whether there are circumstances

Management applies estimates and judgments in its that indicate a possible impairment of property,
determination of useful lives of assets and reviews plant and equipment and if such circumstances
the useful lives of assets at each financial year end exist, how the same have been dealt with by the
and adjusts for changes, where appropriate. entity.
Impairment of assessment
We were satisfied that the property, plant and
At the end of each reporting period, management
assesses whether there is any indication that an asset equipment recognition and measurement policies have
may be impaired. If any such indication exists, been applied appropriately. Based on the work
management estimates the recoverable amount of the performed, we concluded that property, plant and
asset. If the recoverable amount of an asset is less than equipment have been recorded appropriately.
its carrying amount, the carrying amount of the asset is
reduced to its recoverable amount.
5. Contingent liabilities with regard to tax
The range of possible outcomes for contingencies can We evaluated the design and tested the operating
be wide and management is required to make certain effectiveness of controls in respect of the recognition and
judgments in respect of estimates of contingencies in measurement of uncertain tax provisions. We determined
order to assess the adequacy of tax provisions. that we could rely on these controls for the purposes of our
audit.
The Company disclosed contingent liabilities With the assistance of our tax specialists, we evaluated
amounted to Taka 136,702,333 in respect of management’s judgments and estimates of tax exposures
unresolved disputed tax claimed by the tax authority and contingencies in order to assess the adequacy of the
over the years. Company’s tax provisions. In understanding and
evaluating management’s judgments, we considered the
Contingent liabilities were considered as a key audit status of recent and current tax authority audits and
enquiries, judgmental positions taken in tax returns and
matter because unexpected adverse outcomes could current year estimates and developments in the tax
significantly impact the Company’s reported profit and environment.
balance sheet position.
Based on the work performed, we concluded that
contingent liabilities in respect of tax have been disclosed
appropriately.
6. Related party transactions

The Company has related party transactions and we Our audit procedures amongst others included the
focused on identification of related parties and following:
disclosure of related party transactions in • Evaluated the design and tested the operating
accordance with relevant accounting standards. effectiveness of controls over identification and
disclosure of related party transactions.
• Evaluated the transactions among the related
parties and tested material accounts balances.
• Evaluated the Board of Director’s approval for the
related parties’ transactions.
• Evaluated the disclosures in the financial
statements in compliance with IAS 24.
The related party transactions were separately
disclosed in the financial statements in note # 41.
•63
7. Employee benefits
See note # 21.2 & 21.3 to the financial statements
Worker’s participation and welfare fund (note # 21.2) Worker’s participation and welfare fund
As per section 234 (1)(b) of Bangladesh Labour Act We have checked the adequacy of WPPF fund provision
2006 (as amended in 2013) 5% of the net profit of each and distribution thereof and observed that, the
year, not later than nine (9) months from the close of that requirement of the Labour Act 2006 (as amended in
period, is required to be transferred to the Fund, the 2013) followed properly.
proportion of the payment to the Participation Fund and
the Welfare Fund being 80:10. The remaining 10% of the After distribution of some amount, balance of the fund
amount of net profit shall be paid by the Company to the has been transferred to a separate account meant for
Workers' Welfare Foundation Fund, as formed under the WPPF for future distribution without any interest payable
provision of the Bangladesh Worker's Welfare on the undistributed amount.
Foundation Act, 2006. Of the 80% being transferred to
the participation fund, two-third has to be distributed in Defined contribution plan
equal proportions to all the members (beneficiary) of the We have checked the contribution of the employees and
fund in cash and one-third has to be invested in the contribution of the employer to the provident fund
accordance with the manner as stated in section 242 of and confirmed the distribution as per Labour Act 2006
that Act. (as amended in 2013) and found correct. We confirmed
that fund forfeited during current and earlier financial
Defined contribution plan (note # 21.3) year from existing employees have been returned to the
The Company operates a recognized provident fund mother account and from past employees are currently
scheme where employees contribute 8.33% up to 5 under the process of being retrieved.
years and over 5 years 10% of their basic salary with
equal contribution by the Company. The provident fund Defined benefit plan
is being considered as defined contribution plan being Our audit procedures included updating our
managed by a Board of Trustees. Renata Limited understanding of the business processes followed by the
recognizes contributions payable as an expense in the Company for accounting and valuing their defined
period in which the employee provides services. A benefit plan.
liability is recognized where contributions arise in
relation to an employee's service, but remain unpaid at We obtained sufficient audit evidence to conclude that
the period end. the inputs and methodologies used to determine the
liability and determination of the expenses and its basis
Defined benefit plan for defined benefit plan.
The Company operates a defined benefit schemes
which in total are significant in the context of the overall We assessed the design and operating effectiveness of
financial position. Liability for gratuity is provisioned and the Company’s key controls supporting the identification,
transferred within due time to the fund on the basis of measurement and oversight of valuation of the defined
actuarial valuation. At year end the Company reported a benefits payable provision and expenses thereon.
net defined benefits scheme expense of Taka
82,500,000. The Company had transferred the total We examined the basis on which gratuity is payable to
contribution to the fund and there is no current liability to the employee and worked out the liability for gratuity
the fund. Therefore, valuation of the benefit and taking into consideration the actuarial valuation.
expenses thereon is considered as a key audit matter.
There is separate trustee of this benefit plan. We ensured that the basis of computing gratuity is valid;
verify the computation of liability on aggregate basis and
transferred to the fund within the financial year.
Employee data used in calculating obligation is also

tested and appropriateness and presentation of the
disclosures against IAS 19: Employee Benefits were
assessed.

8. Measurement of Deferred Tax Liability
Company reported net deferred tax liability totaling We obtained an understanding, evaluated the design
Taka 1,442,915,240 as at 30 June 2020. and tested the operational effectiveness of the
Company’s key controls over the recognition and
Significant judgment is required in relation to measurement of deferred tax assets and liabilities and
deferred tax liability as it is dependent on forecasts the assumptions used in estimating the future taxable
of future profitability over a number of years. expense of the Company.
We also assessed the completeness and accuracy of

the data used for the estimations of future taxable
expense.
We evaluated the reasonableness of key assumptions,

timing of reversal of temporary differences and
expiration of tax loss carry forwards, recognition and
measurement of deferred tax liability.
We assessed the adequacy of the Company’s

disclosures setting out the basis of deferred tax liability
balances and the level of estimation involved.
We also assisted in evaluating the tax implications, the

reasonableness of estimates and calculations
determined by management.
Finally assessed the appropriateness and presentation

of disclosures as per IAS 12 Income Taxes.
9. Audit of opening balances- financial statements
The financial statements of the Company for the Our procedures, in relation to the key audit matter
financial year ended on 30 June 2020 was the first described, included, among others:
one being subject to our audit.
• meeting with key personnel responsible for financial
In accordance with International Standards on reporting of the Company as well as meetings with
Auditing 510: Initial Engagements- Opening members of the audit team, including specialists
Balances, the first-year audit of financial statements planned to be involved in the audit procedures;
requires performing of a few additional audit
procedures that are limited in the case of the audit • understanding of the Company’s operations, its
performed for a consecutive year. business environment and key risk areas related to
its operations;
The purpose of these additional audit procedures is • understanding of the Company’s internal control
to collect sufficient and relevant audit evidence environment, including also tests of identified
about whether: controls;
• opening balances contain misstatements that • understanding of the Company’s IT environment;

materially affect the financial statements for the
current period; and • understanding of the accounting policy of the
Company and assessing the continuity of its
application;
•65
• appropriate accounting policy applied to the opening • understanding of key areas of estimation and
balances was used continuously in the preparation of professional judgment of the Company’s
financial statements for the current period, or whether management;
the changes made were correctly accounted for and
properly presented in accordance with the applicable • communication with the previous auditor on matters
financial reporting framework. including;
Accordingly, this issue was identified as key audit matter • a discussion of key audit issues and reading of audit
for the audit of the financial statements of the Company. documentation from the previous reporting period;
• assessment of the key audit issues from the previous

reporting period and their impact on the financial
statements for the current financial year;
10. IT systems and controls
Our audit procedures have been focused on IT systems We tested the design and operating effectiveness of the
(Desa & Oracle) and controls due to the pervasive Company’s IT access controls over the information
nature and complexity of the IT environment, the large systems that are critical to financial reporting.
volume of transactions processed in numerous locations
(Head office, Factories and Depots) daily and the We tested IT general controls (logical access, changes
reliance on automated and IT is dependent on manual in data management and aspects of IT operational
controls. controls). This included testing that requests for access
to systems were appropriately reviewed and authorized.
We tested the Company’s periodic review of access

rights. We also inspected requests of changes to
systems for appropriate approval and authorization. We
considered the control environment relating to various
interfaces, configuration and other application layer
controls identified as key to our audit. Where
deficiencies were identified, we tested compensating
controls or performed alternate procedures with CISA
expert.
In addition, we understood where relevant, changes

were made to the IT landscape during the audit period
and tested those changes that had a significant impact
on financial reporting.

Other Matter Those charged with governance are responsible for
The financial statements of the Company for the year overseeing the Company’s financial reporting process.
ended 30 June 2019 were audited by another auditor
who expressed an unmodified opinion on these Auditor’s Responsibilities for the Audit of the
financial statements on 29 October 2019. Financial Statements
Our objectives are to obtain reasonable assurance
Other Information about whether the financial statements as a whole are
Management is responsible for the other information. The free from material misstatement, whether due to fraud
other information comprises the director’s reports, or error, and to issue an auditor’s report that includes
financial highlights, financial trend, statement of value our opinion. Reasonable assurance is a high level of
addition and certification on corporate governance but assurance but is not a guarantee that an audit
doesn’t include the financial statements and our auditor’s conducted in accordance with ISAs will always detect a
report. The director’s reports, financial highlights, financial material misstatement when it exists. Misstatements
trend, statement of value addition and certification on can arise from fraud or error and are considered
corporate governance are expected to be made available material if, individually or in the aggregate, they could
to us after the date of this auditor’s report. reasonably be expected to influence the economic
decisions of users taken on the basis of these financial
Our opinion on the financial statements does not cover statements.
the other information and we do not express any form
of assurance conclusion thereon. As part of an audit in accordance with ISAs, we exercise
professional judgment and maintain professional
In connection with our audit of the financial statements, skepticism throughout the audit. We also:
our responsibility is to read the other information
identified above when it becomes available and, in • Identify and assess the risks of material misstatement
doing so, consider whether the other information is of the financial statements, whether due to fraud or
materially inconsistent with the financial statements or error, design and perform audit procedures responsive
our knowledge obtained in the audit or otherwise to those risks, and obtain audit evidence that is
appears to be materially misstated. sufficient and appropriate to provide a basis for our
opinion. The risk of not detecting a material
When we read the director’s reports, financial misstatement resulting from fraud is higher than for one
highlights, financial trend, statement of value addition resulting from error, as fraud may involve collusion,
and certification on corporate governance that there is forgery, intentional omissions, misrepresentations, or
a material misstatement therein, we are required to the override of internal control.
communicate the matter to those charged with
governance. • Obtain an understanding of internal control relevant
to the audit in order to design audit procedures that
Responsibilities of Management and Those are appropriate in the circumstances, but not for the
Charged with Governance for the Financial purpose of expressing an opinion on the
Statements and Internal Controls effectiveness of the Company’s internal control.
Management is responsible for the preparation of the
financial statements that give a true and fair view in • Evaluate the appropriateness of accounting policies
accordance with IFRSs, the Companies Act 1994, the used and the reasonableness of accounting
Securities and Exchange Rules 1987, relevant estimates and related disclosures made by
notifications issued by Bangladesh Securities and management.
Exchange Commission (BSEC) and other applicable
laws and regulations and for such internal control as • Conclude on the appropriateness of management’s
management determines is necessary to enable the use of the going concern basis of accounting and,
preparation of financial statements that are free from based on the audit evidence obtained, whether a
material misstatement, whether due to fraud or error. material uncertainty exists related to events or
conditions that may cast significant doubt on the
In preparing the financial statements, management is Company’s ability to continue as a going concern. If
responsible for assessing the Company’s ability to we conclude that a material uncertainty exists, we are
continue as a going concern, disclosing, as applicable, required to draw attention in our auditor’s report to the
matters related to going concern and using the going related disclosures in the financial statements or, if
concern basis of accounting unless management either such disclosures are inadequate, to modify our
intends to liquidate the Company or to cease opinion. Our conclusions are based on the audit
operations, or has no realistic alternative but to do so. evidence obtained up to the date of our auditor’s
•67
report. However, future events or conditions may cause a) we have obtained all the information and
the Company to cease to continue as a going concern. explanations which to the best of our knowledge
and belief were necessary for the purposes of
• Evaluate the overall presentation, structure and our audit and made due verification thereof;
content of the financial statements, including the
disclosures, and whether the financial statements
represent the underlying transactions and events in a b) in our opinion, proper books of accounts as
manner that achieves fair presentation. required by law have been kept by the
Company so far as it appeared from our
We communicate with those charged with governance examination of these books;
regarding, among other matters, the planned scope and
timing of the audit and significant audit findings, c) the statement of financial position and statement
including any significant deficiencies in internal control of profit or loss and other comprehensive
that we identify during our audit. income dealt with by the report are in
agreement with the books of accounts and
We also provide those charged with governance with a returns; and
statement that we have complied with relevant ethical
requirements regarding independence, and to d) the expenditure incurred was for the purpose of
communicate with them all relationships and other the Company’s business.
matters that may reasonably be thought to bear on our
independence, and where applicable, related
safeguards.
Signed for & on behalf of
ACNABIN
From the matters communicated with those charged with
Chartered Accountants
governance, we determine those matters that were of
most significance in the audit of the financial statements
of the current period and are therefore the key audit Place: Dhaka
matters. We describe these matters in our auditor’s Date: 26 October 2020 M. Moniruzzaman, FCA
Partner
report unless law or regulation precludes public
disclosure about the matter or when, in extremely rare
circumstances, we determine that a matter should not be
communicated in our report because the adverse
consequences of doing so would reasonably be
expected to outweigh the public interest benefits of such
communication.
Report on other Legal and Regulatory Requirements

In accordance with the Companies Act 1994, the
Securities and Exchange Rules 1987 and relevant
notifications issued by Bangladesh Securities and
Exchange Commission (BSEC), we also report the
following:

RENATA LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2020
Amount in Taka
ASSETS
Notes 30 June 2020 30 June 2019
Non-current assets
Property, plant and equipment 5 11,753,639,042 10,227,887,020
Capital work-in-progress 6 1,914,471,284 1,492,889,354
Investment in subsidiaries 7 63,080,096 143,079,096
13,731,190,422 11,863,855,470
Current assets
Inventories 8 5,126,624,240 4,172,321,022
Trade receivables 9 2,543,784,315 2,265,753,666
Other receivables 10 1,015,276,977 1,086,389,221
Advances, deposits and prepayments 11 533,580,314 433,302,071
Investment in shares and FDR 12 4,721,102,257 3,581,402,024
Cash and cash equivalents 13 1,372,995,830 798,213,039
15,313,363,933 12,337,381,043
TOTAL ASSETS 29,044,554,355 24,201,236,513
EQUITY AND LIABILITIES

Shareholders' equity
Share capital 14 885,892,420 805,356,750
Revaluation surplus 15 153,854,296 154,331,208
Other reserves 15.a (43,065,180) -
Fair value reserve 16 (1,957,787) 24,708,298
Retained earnings 17 20,544,705,799 17,300,366,985
21,539,429,548 18,284,763,241
Non-current liabilities
Deferred tax liabilities 18 1,442,915,240 1,303,839,631
1,442,915,240 1,303,839,631
Current liabilities
Short term bank loan and overdrafts 19 2,981,137,076 2,562,606,715
Trade payables 20 508,513,913 568,382,613
Other payables 21 1,212,206,130 681,214,066
Provision for taxation 22 1,360,352,448 800,430,247
6,062,209,567 4,612,633,641
TOTAL EQUITY AND LIABILITIES 29,044,554,355 24,201,236,513
Net Asset Value (NAV) per share 30 243.14 206.40
The annexed notes from 1 to 43 form an integral part of these Financial Statements.
CEO & Managing Director Director Chief Financial Officer
This is the Statement of Financial Position referred to in our separate report of even date.
ACNABIN
Place: Dhaka M. Moniruzzaman, FCA

Date: 26 October 2020 Partner
•69
RENATA LIMITED
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2020
Amount in Taka
Notes 2019- 2020 2018-2019

Turnover 23 24,164,022,473 22,220,887,119
Cost of sales 24 (12,632,907,753) (11,065,965,907)
Gross profit 11,531,114,720 11,154,921,212
Administrative expenses 25 (457,872,424) (434,332,663)

Selling, marketing and distribution expenses 26 (5,102,559,584) (5,370,161,610)
Operating profit 5,970,682,712 5,350,426,939
Other income 27 544,085,447 274,885,492

Finance costs 28 (223,159,798) (150,846,362)
Profit before contribution to workers' participation fund 6,291,608,361 5,474,466,069
Contribution to workers' participation and welfare fund (299,600,395) (260,688,862)

Profit before tax 5,992,007,966 5,213,777,207
Tax expenses 29
Current tax 22 (1,753,720,521) (1,295,568,037)
Deferred tax 18 (108,691,642) (94,847,040)
(1,862,412,163) (1,390,415,077)
Net profit after tax for the year 4,129,595,803 3,823,362,130
Other comprehensive income

Items that will not be reclassified to profit or loss
Fair value adjustment on investment in shares, net of tax (26,666,085) (514,922)
Realised loss on disposal of shares - (112,598)
Total comprehensive income for the year 4,102,929,718 3,822,734,610
Basic earnings per share (EPS) 31 46.62 43.16
This is the Statement of Profit or Loss and Other Comprehensive

Income referred to in our separate report of even date.
ACNABIN
Place: Dhaka M. Moniruzzaman, FCA

Date: 26 October 2020 Partner

RENATA LIMITED
STATEMENT OF CHANGES IN EQUITY
Amount in Taka
Attributable to equity holders of Renata Limited

Total
Particulars Share Revaluation Other Fair value Retained equity
capital surplus reserve reserve earnings
Balance at 01 July 2018 700,310,221 154,808,121 - 25,223,220 14,246,822,807 15,127,164,369

Stock dividend issued 105,046,529 - - - (105,046,529) -
Final dividend - - - - (665,294,710) (665,294,710)
Adjustment of deferred tax liability due to extra depreciation charged to revaluation reserve - 158,972 - - - 158,972
Depreciation adjustment on revalued assets - (635,885) - - 635,885 -
Net profit after tax for the year - - - - 3,823,362,130 3,823,362,130
Fair value adjustment on investment in shares, net of tax - - - (514,922) - (514,922)
Realised loss on disposal of shares - - - (112,598) - (112,598)
Transfer between reserves- realised loss on disposal of shares - - - 112,598 (112,598) -
Balance at 30 June 2019 805,356,750 154,331,208 - 24,708,298 17,300,366,985 18,284,763,241
Balance at 01 July 2019 805,356,750 154,331,208 - 24,708,298 17,300,366,985 18,284,763,241

Stock dividend issued 80,535,670 - - - (80,535,670) -
Final dividend (cash dividend) - - - - (805,356,750) (805,356,750)
Other reserves due to merger of Renata Oncology Limited - - (43,065,180) - - (43,065,180)
Settlement in consideration of cash paid due to merger of Renata Oncology Limited - - - - (454) (454)
Adjustment of deferred tax liability due to extra depreciation charged to revaluation reserve - 158,972 - - - 158,972
Depreciation adjustment on revalued assets - (635,885) - - 635,885 -
Net profit after tax for the year - - - - 4,129,595,803 4,129,595,803
Fair value adjustment on investment in shares, net of tax - - - (26,666,085) - (26,666,085)
Balance at 30 June 2020 885,892,420 153,854,296 (43,065,180) (1,957,787) 20,544,705,799 21,539,429,548
Place: Dhaka
Date: 26 October 2020
•71
RENATA LIMITED
STATEMENT OF CASH FLOWS
Amount in Taka
Notes 2019 - 2020 2018 - 2019

A. Cash flows from operating activities
Collection from customers and other income 28,520,370,349 26,035,868,913

Payment of VAT (3,511,655,536) (3,210,746,574)
Payment to suppliers, employees and others (18,987,716,587) (17,219,025,789)
Cash generated by operations 6,020,998,226 5,606,096,550
Finance costs (228,041,378) (150,177,868)

Payment of tax (1,194,062,327) (1,300,676,754)
Net cash flow from operating activities 32 4,598,894,521 4,155,241,928
B. Cash flows from investing activities
Purchase of property, plant and equipment (2,492,616,740) (1,779,769,899)

Investment in shares and FDR (1,167,885,112) (2,046,994,460)
Sale proceeds of property, plant and equipment 13,932,500 7,964,558
Net cash used in investing activities (3,646,569,352) (3,818,799,801)
C. Cash flows from financing activities
Bank loan received/ (repaid) (net) 413,277,631 65,450,922

Dividend paid (799,596,832) (664,396,684)
Net cash used in financing activities (386,319,201) (598,945,762)
D. Effect of exchange rate changes on cash and cash equivalents 1,633,925 3,364,206
E. Net cash inflow/(outflow) for the year (A+B+C+D) 567,639,893 (259,139,429)
F. Cash and cash equivalents at the beginning of the year 798,213,039 1,057,352,468
G. Cash and cash equivalents of Renata Oncology Limited due
to merger at the beginning of the year 7,142,898 -
H. Cash and cash equivalents at the end of the year (E+F+G) 1,372,995,830 798,213,039
Net operating cash flow per share 33 51.91 46.90
Place: Dhaka

RENATA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
As at and for the year ended 30 June 2020
1. Reporting entity
1.1 Company profile

Renata Limited (the “Company”) is a public limited company incorporated in Bangladesh in 1972 as Pfizer
Laboratories (Bangladesh) Limited under the Companies Act 1913. The Company was listed with Dhaka
Stock Exchange Limited on 12 May 1979. Subsequently, the Company was renamed as Renata Limited in
1993. The registered office of the Company is situated at Plot # 1, Milk Vita Road, Section-7, Mirpur,
Dhaka-1216.
1.2 Principal activities

The principal activities of the Company are manufacturing, marketing and distribution of pharmaceutical
and animal health products.
1.3 Merger of Renata Limited and Renata Oncology Limited

Renata Limited acquired 99.99% of equity interest in Renata Oncology Limited on 12 August 2012. The
businesses of Renata Limited and Renata Oncology Limited are very much co-related with each other and
are in many cases also supplementary to each other. For the purpose of conducting their business more
efficiently and profitably, the Board of Directors of the companies decided to undertake a Scheme of
Amalgamation of Renata Oncology Limited with Renata Limited under provision of section 228 & 229 of the
Companies Act, 1994.
After approval of the Board of Directors and consent of minority shareholder, the Hon'ble High Court
Division of the Supreme Court of Bangladesh has sanctioned the Scheme of Amalgamation of Renata
Oncology Limited with Renata Limited on 26 July 2020 with effect from the appointed date 01 July 2019.
The audited financial statements of Renata Oncology Limited on 30 June 2019 have been used to account
for the assets and liabilities of Renata Oncology Limited in the books of Renata Limited.
Renata Oncology Limited will no longer continue as a separate entity as a result of amalgamation, rather all
the undertakings have entirely been transferred to Renata Limited at its continuing value. In accordance
with the Scheme of Amalgamation, Renata Limited paid in consideration at cash of net asset value
equivalent to the share exchange ratio that comes to 0.02 Renata Limited’s share for each share of Renata
Oncology Limited to the ordinary minority shareholder of Renata Oncology Limited, whose names were
recorded in the Register of Members on the Record Date, fixed by the Board of Directors of Renata Limited.
Ordinary shares of Renata Oncology Limited that were held by Renata Limited on the Record Date have
been cancelled and deemed to have been cancelled without any further act or deed and no shares of
Renata Limited are required to be issued in lieu thereof. Finally, the deficit amount of Tk. 43,065,180 of the
net assets of Renata Oncology Limited over the net assets value of the shares settled in consideration of
cash of Tk. 454 by Renata Limited have been transferred and debited to “Other Reserves” in the books of
Renata Limited pursuant to the Scheme of Amalgamation.
2. Basis of preparation of financial statements
2.1 Reporting framework and compliance thereof

The financial statements have been prepared in compliance with the requirements of the Companies Act
1994, the Securities and Exchange Rules 1987, the Listing Regulations of Dhaka Stock Exchange (DSE)
and other relevant local laws as applicable, and in accordance with the International Financial Reporting
Standards (IFRSs) issued by the International Accounting Standards Board (IASB) and adopted by the
Institute of Chartered Accountants of Bangladesh (ICAB).
•73
2.2 Application of International Financial Reporting Standards (IFRSs)
The following IFRSs are applicable for the financial statements for the year under review:
IAS 1 Presentation of financial statements

IAS 2 Inventories
IAS 7 Statement of cash flows
IAS 8 Accounting policies, changes in accounting estimates and errors
IAS 10 Events after the reporting period
IAS 12 Income taxes
IAS 16 Property, plant and equipment
IAS 19 Employee benefits
IAS 21 The effects of changes in foreign exchange rates
IAS 23 Borrowing costs
IAS 24 Related party disclosures
IAS 27 Separate financial statements
IAS 33 Earnings per share
IAS 34 Interim financial reporting
IAS 36 Impairment of assets
IAS 37 Provisions, contingent liabilities and contingent assets
IFRS 7 Financial instruments: disclosures
IFRS 9 Financial instruments
IFRS 13 Fair value measurement
IFRS 15 Revenue from contracts with customers
2.3 Measurement of elements in the financial statements

Measurement is the process of determining the monetary amounts at which the elements of the financial
statements are to be recognized and carried in the statement of financial position and profit or loss and other
comprehensive income. The measurement basis adopted by Renata Limited is historical cost except for few
of the property, plant and equipment, financial assets and inventories which are stated in the accounting
policies mentioned in the respective notes.
2.4 Functional and presentational currency and level of precision

The financial statements are prepared in Bangladesh Taka (BDT), which is the Company's functional
currency. All financial information is presented in BDT and has been rounded off to the nearest BDT.
2.5 Use of estimates and judgment

The preparation of financial statements in conformity with International Financial Reporting Standards
(IFRSs) requires management to make judgments, estimates and assumptions that affect the application of
accounting policies and the reported amounts of assets, liabilities, income and expenses, and disclosures
requirements for contingent assets and liabilities during and at the date of the financial statements.
Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an
ongoing basis. Revisions of accounting estimates are recognised in the period in which the estimate is
revised and in any future periods affected as required by IAS 8: Accounting Policies, Changes in Accounting
Estimates and Errors. In particular, significant areas of estimation uncertainty and critical judgments in
applying accounting policies that have the most significant effect on the amounts recognised in the financial
statements include depreciation, amortization, impairment, net realizable value of inventories, accruals,
taxation and provision.
2.6 Comparative information and rearrangement thereof

Comparative figures have been re-arranged wherever considered necessary to ensure better comparability
with the current period without causing any impact on the profit and value of assets and liabilities as
reported in the financial statements.

2.7 Going concern
When preparing financial statements, management makes an assessment of Renata Limited’s ability to
continue as a going concern. Renata Limited prepares financial statements on a going concern basis.
Renata Limited has assessed the impact of COVID-19 on its going concern and found no threat in
upcoming years.
2.8 Accrual basis of accounting

Renata Limited prepares its financial statements, except for cash flow information, using the accrual basis
of accounting. Since the accrual basis of accounting is used, Renata Limited recognises items as assets,
liabilities, equity, income and expenses (the elements of financial statements) when they satisfy the
definitions and recognition criteria for those elements in the Framework.
2.9 Materiality and aggregation

Renata Limited presents separately each material class of similar items. The Company presents separately
items of a dissimilar nature or function unless they are immaterial. Financial statements result from processing
large numbers of transactions or other events that are aggregated into classes according to their nature or
function.
2.10 Offsetting
Renata Limited does not offset assets and liabilities or income and expenses, unless required or permitted by an
IFRS.
2.11 Date of authorization for issue of the financial statements

On 26 October 2020 the Board of Directors reviewed the financial statements and authorized them for issue.
3. Summary of significant accounting policies

Renata Limited selects and applies its accounting policies consistently for similar transactions, other events
and conditions, unless an IFRS specifically requires or permits categorization of items for which different
policies may be appropriate. The accounting policies set out below have been applied consistently in all
material respects to all period presented in these financial statements:
Changes in accounting policies

Renata Limited changes its accounting policy only if the change is required by an IFRS or results in the
financial statements providing reliable and more relevant information about the effects of transactions, other
events or conditions on the Company’s financial position, financial performance or cash flows. Changes in
accounting policies is to be made through retrospective application by adjusting opening balance of each
affected components of equity i.e. as if new policy has always been applied.
Changes in accounting estimates

Estimates arise because of uncertainties inherent within them, judgment is required but this does not
undermine reliability. Effect of changes of accounting estimates is included in profit or loss account.
Correction of error in prior period financial statements

Renata Limited corrects material prior period errors retrospectively by restating the comparative amounts
for the prior period(s) presented in which the error occurred; or if the error occurred before the earliest prior
period presented, restating the opening balances of assets, liabilities and equity for the earliest prior period
presented.
3.1 Property, plant and equipment (PPE)

Recognition and measurement
The cost of an item of property, plant and equipment is recognised as an asset if, and only if it is probable
that future economic benefits will flow to Renata Limited and the cost of the item can be measured reliably.
An item of property, plant and equipment that qualifies for recognition as an asset is measured at its cost.
Elements of Costs
• Purchase price, including import duties and non-refundable purchase taxes, after deducting trade
discounts and rebates.
• Costs directly attributable to bringing the asset to the location and condition necessary
for it to be capable
of operating in the manner intended by the management.
• The initial estimate of the cost of dismantling and removing the item and restoring the site on
which it is located.
•75
Subsequent Costs
• Costs of day to day servicing [repairs and maintenance] are recognised as expenditure as incurred.
• Replacement parts are capitalized, provided the original cost of the items they replace is derecognised.
Measurement of property, plant and equipment after recognition
Cost model
After recognition as an asset, an item of property, plant and equipment is carried at its cost less any
accumulated depreciation and any accumulated impairment losses.
Revaluation model
After recognition as an asset, an item of property, plant and equipment is to be measured at a revalued
amount, which is its fair value less subsequent accumulated depreciation and impairment accumulated losses.
Where an asset’s carrying amount is increased as a result of a revaluation, the increase is recognised in other
comprehensive income and accumulated in equity under the heading of revaluation surplus. However, the
increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset
previously recognised in profit or loss. Where an asset’s carrying amount is decreased as a result of a
revaluation, the decrease is recognised in profit or loss. However, the decrease is recognised in other
comprehensive income to the extent of any credit balance existing in the revaluation surplus in respect of that
asset. The revaluation surplus included in equity in respect of an item of property, plant and equipment is
transferred directly to retained earnings as the asset is used by Renata Limited.
Depreciation
The depreciation charge for each period is recognised in profit or loss unless it is included in the carrying
amount of another asset. Depreciation of an asset begins when it is available for use, i.e. when it is in the
location and condition necessary for it to be capable of operating in the manner intended by management. The
residual value and the useful life of an asset is reviewed at least at each financial year-end and, if expectations
differ from previous estimates, the change(s) shall be accounted for as a change in an accounting estimate.
Depreciation has been charged on straight-line method on all property, plant and equipment that have already
been put on operation except land. Full month's depreciation is charged from the month the asset is put into
use and no depreciation is charged for the month of disposal. Rates of depreciation considering the useful
lives of respective assets are as follows :
Depreciation rate (%)

Asset Type
30 June 2020 30 June 2019
Buildings 1.54-5 1.54-5
Plant and machinery 5-20 5-20
Automobiles 25 25
Office equipment 10-12.5 10-12.5
Furniture and fixtures 10 10
Derecognition of property, plant and equipment

The carrying amount of an item of property, plant and equipment is derecognized on disposal or when no
future economic benefits are expected from its use or disposal. The gain or loss arising from derecognition of
an item of property, plant and equipment is included as other income in profit or loss when the item is
derecognized. When the revalued assets are disposed of, the respective revaluation surplus is transferred to
retained earnings.
3.2 Leases
IFRS 16 introduces a single, on-balance sheet lease accounting model for lessees. A lessee recognises a
right-to-use asset representing its right to use the underlying asset and a lease liability representing its
obligation to make lease payments. There are recognition exemptions for short-term leases and leases of
low-value items. Lessor accounting remains similar to the current standard- i.e. lessors continue to classify
leases as finance or operating leases. The standard is effective for annual periods beginning on or after 1
January 2019, but also with permission for early adoption.

Renata Limited has applied the exemption for short-term leases and booked its rental payments as
expenses in profit or loss given that the enforceable period of all its current contracts are cancellable in the
short-term and has no purchase option.
3.3 Capital work-in-progress

Capital work- in -progress represents the cost incurred for acquisition and construction of items of property,
plant and equipment that were not ready for use at the end of 30 June 2020 and these were stated at cost.
In case of imported components, capital work- in- progress is recognised when risks and rewards
associated with such assets are transferred to the Company, i.e. at the time shipment is confirmed by the
supplier.
3.4 Impairment of assets

If the recoverable amount of an asset is less than its carrying amount, the carrying amount of the asset is
reduced to its recoverable amount. That reduction is an impairment loss. An impairment loss on a
non-revalued asset is recognised in profit or loss. However, an impairment loss on a revalued asset is
recognised in other comprehensive income to the extent that the impairment loss does not exceed the
amount in the revaluation surplus for that same asset. Such an impairment loss on a revalued asset
reduces the revaluation surplus for that asset.
Renata Limited assesses at the end of each reporting period whether there is any indication that an asset
may be impaired. If any such indication exists, Renata Limited estimates the recoverable amount of the
asset.
3.5 Financial instruments
3.5.1 Financial assets

All financial assets that are within the scope of IFRS 9 are required to be measured at amortised cost or fair
value, with movements through other comprehensive income or the income statement on the basis of
Renata Limited’s business model for managing the financial assets and the contractual cash flow
characteristics of the financial assets.
Investment in subsidiaries
Separate financial statements are to enhance the relevance, reliability and comparability of the information
that a parent entity provides in its separate financial statements for a group of entities under its control.
Renata Limited has disclosed the information to enable users of the financial statements to evaluate the
nature of the relationship between Renata and its subsidiaries. Investment in subsidiaries is accounted for
in Renata Limited’s separate financial statements at cost.
Investment in shares
Renata Limited has elected to designate equity investments as measured at Fair Value through Other
Comprehensive Income (FVTOCI). They are initially recorded at fair value plus transaction costs and then
remeasured at subsequent reporting dates to fair value. Unrealized gains and losses are recognized in
other comprehensive income. On disposal of the equity investment, gains and losses that have been
deferred in other comprehensive income are transferred directly to retained earnings.
Dividends on equity investments and distributions from funds are recognized in the income statement when
Renata Limited’s right to receive payment is established.
Investment in fixed deposit receipt

Fixed deposit, comprising funds held with banks and other financial institutions, are initially measured at fair
value, plus direct transaction costs, and are subsequently measured at amortized cost using the effective
interest method at each reporting date. Changes in carrying value are recognised in profit.
Trade receivables
Trade receivables are measured in accordance with the business model under which each portfolio of trade
receivable is held. Renata Limited has a portfolio of trade receivables that is being managed within a
business model whose objective is to collect contractual cash flows, and are measured at amortised cost.
Trade receivables measured at amortised cost are carried at the original invoice amount less allowance for
expected credit losses.
•77
Expected credit losses are calculated in accordance with the simplified approach permitted by IFRS 9, using
a provision matrix applying lifetime historical credit loss experience to the trade receivables. The expected
credit loss rate varies depending on whether and the extent to which settlement of the trade receivables is
overdue and it is also adjusted as appropriate to reflect current economic conditions and estimates of future
conditions. For the purpose of determining credit loss rates, customers are classified into groupings that have
similar loss patterns. The key drivers of the loss rate are the nature of the business unit and the location and
type of customer.
When a trade receivable is determined to have no reasonable expectation of recovery it is written off, firstly
against any expected credit loss allowance available and then to the income statement. Subsequent
recoveries of amounts previously provided for or written off are credited to the income statement.
Cash and cash equivalents

Cash and cash equivalents comprise cash in hand, balances with banks and financial institutions, and highly
liquid investments with maturities of three months or less when acquired. They are readily convertible into
known amounts of cash and are held at amortised cost under the hold to collect classification, where they
meet the hold to collect “solely payments of principals and interests” test criteria under IFRS 9. Those not
meeting these criteria are held at fair value through profit and loss.
3.5.2 Financial liabilities
Borrowings
All borrowings are initially recorded at the amount of proceeds received, net of transaction costs. Borrowings
are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs,
and the amount due on redemption being recognised as a charge to the income statement over the period of
the relevant borrowing.
Trade payables
Trade payables are recognised initially at fair value. Subsequent to initial recognition they are measured at
amortised cost using the effective interest method.
3.5.3 Impairment of financial assets

IFRS 9 requires an expected credit loss (ECL) model to be applied to financial assets rather than the incurred
credit loss model required under IAS 39. The expected credit loss model requires Renata Limited to account
for expected losses as a result of credit risk on initial recognition of financial assets and to recognised changes
in those expected credit losses at each reporting date. Renata Limited recognizes a loss allowance on trade
receivables based on lifetime expected credit losses.
3.6 Inventories
Measurement
Inventories are measured at the lower of cost and net realizable value except for goods in transit which are
valued at cost.
Cost of inventories
The costs of inventories are comprised of all costs of purchase, costs of conversion and other costs incurred
in bringing the inventories to their present location and condition. Cost of active materials, raw materials and
packing materials is assigned by using the first-in, first-out (FIFO) cost formula. Cost of work-in-progress and
finished stocks are determined by using FIFO cost formula including allocation of manufacturing overheads
related to bringing the inventories to their present condition. The Company uses standard cost method for
measurement of cost of finished goods.
Recognition as an expense
When inventories are sold, the carrying amount of those inventories is recognised as an expense in the period
in which the related revenue is recognised. The amount of any write-down of inventories to net realizable value
and all losses of inventories is recognised as an expense in the period the write-down or loss occurs. The
amount of any reversal of any write-down of inventories, arising from an increase in net realizable value, is
recognised as a reduction in the amount of inventories recognised as an expense in the period in which the
reversal occurs.

3.7 Other liabilities
Recognition
A provision is recognised when Renata Limited has a present obligation (legal or constructive) as a result
of a past event; it is probable that an outflow of resources embodying economic benefits will be required to
settle the obligation; and a reliable estimate can be made of the amount of the obligation. If these conditions
are not met, no provision is recognised. Accruals are liabilities to pay for goods or services that have been
received or supplied but have not been paid, invoiced or formally agreed with the supplier, including amount
due to employees.
Renata Limited does not recognise a contingent liability. A contingent liability is disclosed, unless the
possibility of an outflow of resources embodying economic benefits is remote. Renata Limited does not
recognise a contingent asset. Contingent assets usually arise from unplanned or other unexpected events
that give rise to the possibility of an inflow of economic benefits to Renata Limited.
Measurement of provisions
The amount recognised as a provision is the best estimate of the expenditure required to settle the present
obligation at the end of the reporting period.
Changes and use of provisions

Provisions is reviewed at the end of each reporting period and adjusted to reflect the current best estimate.
If it is no longer probable that an outflow of resources embodying economic benefits will be required to settle
the obligation, the provision is reversed.
3.8 Post-employment benefits
Defined contribution plan

The Company operates a recognised provident fund scheme. The provident fund is being considered as
defined contribution plan and managed by a Board of Trustees. The employees contribute 8.33% up to 5
years and over 5 years 10% of basic salary with equal contribution by the Company.
Defined benefit plan

The Company had operated an unfunded gratuity plan till 29 December 2015 and thereafter, effective from
30 December 2015, the scheme has been converted to a funded one. The fund is managed by a Board of
Trustees. Actuarial valuation of the fund is carried out at 30 June 2020 by a professional actuary.
Group insurance scheme

The Company operates a group insurance scheme for its permanent employees.
Worker’s participation and welfare fund

The Company has created a workers’ participation and welfare fund in compliance with “The Bangladesh
Labour Act, 2006” (as amended in 2013) and 5% of profit before charging such expenses is transferred to
this fund.
3.9 Borrowing cost

Renata Limited capitalises borrowing costs that are directly attributable to the acquisition, construction or
production of a qualifying asset as part of the cost of that asset. Renata Limited recognises other borrowing
costs as an expense in the period in which it incurs them.
3.10 Reporting foreign currency transactions
Initial recognition
A foreign currency transaction is recorded, on initial recognition in the functional currency, by applying to the
foreign currency amount the spot exchange rate between the functional currency and the foreign currency
at the date of the transaction.
•79
Subsequent measurement
A foreign currency transaction may give rise to assets or liabilities that are denominated in a foreign currency.
These assets and liabilities are translated into Renata Limited’s functional currency at each reporting date.
Foreign currency monetary items outstanding at the end of the reporting date are translated using the closing
rate. The difference between this amount and the previous carrying amount in functional currency is an
exchange gain or loss. Exchange differences arising on the settlement of monetary items or on translating
monetary items at rates different from those at which they were translated on initial recognition during the
period or in previous financial statements is recognised in profit or loss in the period in which they arise.
3.11 Revenue recognition

Renata Limited receives revenue for supply of goods to external customers against orders received. The
majority of contracts that Renata Limited enters into relate to sales orders containing single performance
obligations for the delivery of pharmaceutical and animal health products.
Product revenue is recognised when control of the goods is passed to the customer. The point at which control
passes is determined by each customer arrangement, but generally occurs on delivery to the customer. Value
added tax and other sales taxes are excluded from revenue.
Product revenue represents net invoice value including fixed and variable consideration. Variable
consideration arises on the sale of goods as a result of discounts and allowances given and accruals for
estimated future returns and rebates. Revenue is not recognised in full until it is highly probable that a
significant reversal in the amount of cumulative revenue recognised will not occur.
The methodology and assumptions used to estimate rebates and returns are monitored and adjusted regularly
in the light of contractual and legal obligations, historical trends, past experience and projected market
conditions. Once the uncertainty associated with the returns and rebates is resolved, revenue is adjusted
accordingly. The scheme has been recognized as per 5 step model of IFRS-15 “Revenue from contract with
customers”.
3.12 Taxation
The tax expense for the period comprises current tax and deferred tax. Tax is recognised in the income
statement, except in the case it relates to items recognised in other comprehensive income or directly in
equity. In this case, the tax is also recognised in other comprehensive income or directly in equity. The
prescribed tax rate is @25% for the Company.
Current tax
The current income tax charge is calculated based on tax laws enacted or substantively enacted at the
balance sheet date. Management periodically evaluates positions taken in tax returns with respect to
situations in which applicable tax regulation is subject to interpretation. It establishes provisions where
appropriate on the basis of amounts expected to be paid to the tax authorities.
Deferred tax
Principle of recognition
Deferred tax is recognised as income or an expense amount within the tax charge, and included in the net
profit or loss for the period. Deferred tax relating to items dealt with as other comprehensive income is
recognised as tax relating to other comprehensive income within the statement of profit or loss and other
comprehensive income.
Deferred tax relating to items dealt with directly in equity (such as the correction of an error or retrospective
application of a change in accounting policy) is recognised directly in equity.
Taxable temporary difference\

A deferred tax liability is recognised for all taxable differences, except to the extent that the deferred tax liability
arises from the initial recognition of goodwill; or the initial recognition of an asset or liability in a transaction
which is not a business combination; and at the time of the transaction, affects neither accounting profit nor
taxable profit (tax loss).

Deductible temporary difference
A deferred tax asset is recognised for all deductible temporary differences to the extent that it is probable
that taxable profit will be available against which the deductible temporary difference can be utilised, unless
the deferred tax asset arises from the initial recognition of an asset or liability in a transaction that is not a
business combination; and at the time of the transaction, affects neither accounting profit nor taxable profit
(tax loss).
Measurement
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period
when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted
or substantively enacted by the end of the reporting period.
3.13 Earnings per share [EPS]
Basic EPS
Renata Limited calculates basic earnings per share amounts for profit or loss attributable to ordinary equity
holders of the parent entity. Basic earnings per share is calculated by dividing profit or loss attributable to
ordinary equity holders of the parent entity (the numerator) by the weighted average number of ordinary
shares outstanding (the denominator) during the period.
Renata Limited presents basic earnings per share in the statement of profit or loss and other
comprehensive income. The Company presents basic earnings per share with equal prominence for all
periods presented. Renata Limited presents basic earnings per share, even if the amounts are negative (i.e.
a loss per share).
3.14 Statement of cash flows

Statement of cash flows has been prepared in accordance with the International Accounting Standard
IAS-7, 'Statement of Cash Flows' under direct method. Cash comprises cash on hand and demand
deposits. Cash equivalents are short-term, highly liquid investments that are readily convertible to known
amounts of cash and which are subject to an insignificant risk of changes in value. The Company has
presented the effect of exchange rate changes on cash and cash equivalents due to currency translation in
the Statement of cash flow in accordance with IAS-7.
3.15 Operating segments
As there is a single business and geographic segment within which the Company operates, no segment
reporting is felt necessary.
3.16 Related party disclosures

Relationship between a parent and its subsidiaries is disclosed irrespective of whether there have been
transactions between them. Renata Limited discloses key management personnel compensation. The
Company discloses the nature of the related party relationship as well as information about those
transactions and outstanding balances, including commitments, necessary for users to understand the
potential effect of the relationship on the financial statements. The Company complies with IAS-24 “Related
party disclosures” regarding these disclosures. The Company has taken approval from its Board of
Directors for the related parties’ transactions.
3.17 Events after the reporting period

Events after the reporting period are those events, favorable and unfavorable, that occur between the end of
the reporting period and the date when the financial statements are authorized for issue. Two types of events
can be identified: adjusting events: those that provide evidence of conditions that existed at the end of the
reporting period and non-adjusting events: those that are indicative of conditions that arose after the
reporting period.
3.18 Financial risk management

Renata Limited’s activities expose it to a variety of financial risks and those activities involve the analysis,
evaluation, acceptance and management of some degree of risk or combination of risks. Taking risk is core
to the financial business, and operational risks are an inevitable consequence of being in business.
•81
Renata Limited’s aim is therefore to achieve an appropriate balance between risk and return and minimize
potential adverse effects on Renata Limited’s financial performance. Renata Limited’s risk management
policies are designed to identify and analyze these risks, to set appropriate risk limits and controls, and to
monitor the risks and adherence to limits by means of reliable and up-to-date information systems. Renata
Limited regularly reviews its risk management policies and systems to reflect changes in markets, products
and emerging best practices
Credit risk
Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer
contract, leading to a financial loss. The senior management of Renata Limited carefully manages its
exposure to credit risk. Credit exposures arise principally in receivables from customers into Renata
Limited’s asset portfolio. The credit risk management and control are controlled through the credit policies
of Renata Limited which are updated regularly. The Company is also exposed to other credit risks arising
from balances with banks which are controlled through board approved counterparty limits.
Liquidity risk
Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time
or at a reasonable price.
The Company's approach toward managing liquidity is to ensure, as far as possible, that it will always have
sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without
incurring unacceptable losses or risking damage to the Company's reputation. Typically, management
ensures that it has sufficient cash and cash equivalents to meet expected operational expenses, including
the servicing of financial obligations through preparation of the cash forecast prepared based on time line
of payment of the financial obligations and accordingly arrange for sufficient liquidity/fund to make the
expected payments within due date.
Market risk
Renata Limited takes on exposure to market risks, which is the risk that the fair value or future cash flows of
a financial instrument will fluctuate because of changes in market prices. Market risks arise from open
positions in interest rate and currency, all of which are exposed to general and specific market movements
and changes in the level of volatility of market rates or prices such as interest rates, credit spreads and foreign
exchange rates.
a) Currency risk
The Company is exposed to currency risk on certain receivables and payables such as receivables
from foreign customers and payables for import of raw materials, machinery and equipment. The
majority of the Company’s foreign currency transactions is denominated in US Dollar and relates to
procurement of raw materials, machinery and equipment from abroad.
b) Interest rate risk

Interest rate risk is the risk that the fair value or the future cash flows of a financial instrument will
fluctuate because of changes in market interest rates. Renata Limited takes on exposure to the
effects of fluctuations in the prevailing levels of market interest rates on both its fair value and cash
flow risks. Interest margins may increase as a result of such changes but may reduce losses in the
event that unexpected movements arise.
3.19 Impact of COVID-19

On 11 March 2020 the World Health Organization (WHO) declared a global pandemic due to Corona Virus
related respiratory disease, commonly known as COVID-19. To contain the spread of this disease, along with
many other countries of the world, the Government of Bangladesh has also taken a number of measures
such as declaration of general holiday, enforcement of lock down, social distancing, etc. As a result of these
measures, all business and economic activities in the country have been adversely affected and this has also
affected the Company. Although the business operation and profitability of the Company have been
impacted by COVID-19, but due to the constantly changing nature of the situation and lack of certainty at
present regarding how long this situation will prevail, the potential impact of COVID-19 related matters on the
Company’s operation and financial results cannot be reasonably assessed. The Management of the
Company assessed the going concern and found no uncertainty regarding this for the upcoming 12 months
due to COVID-19. Assessment of COVID-19 in relation to the following areas and the conclusion reached
thereof is given below.

Revenue
The principal activities of the Company are manufacturing, marketing and distribution of pharmaceutical and animal
health products. Although lockdown and restriction in movements imposed due to COVID-19 has affected sales of
the Company in the last quarter of 2019-2020, the Company has managed to recover in the subsequent quarter.
Inventories
Inventory includes materials, work-in-process, stock in transit and finished goods. Disruption in raw material supply,
exchange rate fluctuation and increase in other production costs have impacted inventory value. The Company has
assessed inventory as per IAS-2 and reported it correctly at the lower of cost and net realizable value.
Trade receivables
The Company has assessed collectability of trade receivables and has kept sufficient provision as required.
Increase in receivable balance is due to increase in turnover of the Company in the normal course of business.
Others
Management of the Company has assessed other areas of operations and found no significant impact of COVID-19
thereon.
4. Director’s responsibilities statement

The Board of Directors is responsible for the preparation and presentation of the financial statements.
5. Property, plant and equipment

Amount in Taka
Cost / Revaluation Depreciation

Amount of Amount of
Renata Disposal / Renata Disposal /
Written down
Balance as at Oncology Addition during adjustment Balance as at Balance as at 1 Oncology Charge for the adjustment Balance as at
Particulars Rate % value as at 30 June
01 July 2019 Limited as at the year during the 30 June 2020 July 2019 Limited as at year during the 30 June 2020
2020
01 July 2019 year 01 July 2019 year
due to merger due to merger
Freehold land
At cost 1,171,099,823 - 357,281,141 - 1,528,380,964 - - - - - 1,528,380,964
On revaluation 179,132,078 - - - 179,132,078 - - - - - 179,132,078
1,350,231,901 - 357,281,141 - 1,707,513,042 - - - - - 1,707,513,042
Buildings
At cost 3,319,220,764 90,554,167 583,258,235 - 3,993,033,166 1.54-5 672,773,486 9,602,617 116,266,896 - 798,642,999 3,194,390,167
On revaluation 41,291,251 - - - 41,291,251 1.54-5 14,648,386 - 635,885 - 15,284,271 26,006,980
3,360,512,015 90,554,167 583,258,235 - 4,034,324,417 687,421,872 9,602,617 116,902,781 - 813,927,270 3,220,397,147
Plant and machinery 8,730,002,091 123,505,535 1,040,595,849 - 9,894,103,475 5 - 20 3,302,110,020 24,277,950 610,681,164 - 3,937,069,134 5,957,034,341
Automobiles 463,471,087 - 101,752,057 36,523,503 528,699,641 25 307,048,838 - 74,871,574 36,523,503 345,396,909 183,302,733
Office equipment 835,950,649 2,584,006 54,476,878 - 893,011,533 10 - 12.5 300,379,483 717,924 91,438,536 - 392,535,943 500,475,591
Furnitures and fixtures 174,626,497 2,466,431 119,799,542 - 296,892,470 10 89,947,007 719,003 21,310,272 - 111,976,282 184,916,188
Total 30 June 2020 14,914,794,240 219,110,139 2,257,163,702 36,523,503 17,354,544,579 4,686,907,220 35,317,494 915,204,327 36,523,503 5,600,905,537 11,753,639,042
Total 30 June 2019 13,480,374,974 - 1,455,044,481 20,625,215 14,914,794,240 3,901,832,083 - 801,008,550 15,933,413 4,686,907,220 10,227,887,020
5.1 Initially recognised value of fully depreciated assets included in property, plant and
equipment is as follows:
30 June 2020 30 June 2019

Taka Taka
Building 4,448,824 4,448,824
Plant and machinery 469,041,556 301,621,760
Automobiles 207,902,481 173,202,589
Office equipment 115,696,885 88,486,301
Furniture and fixtures 21,237,301 13,603,077
818,327,047 581,362,551
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5.2 The freehold lands of the Company measuring 217.825 acres are located at:
30 June 2020 30 June 2019

Mirpur, Dhaka 12.000 acres 12.000 acres
Pekua, Cox's Bazar 45.340 acres 45.340 acres
Barisal Sadar 0.290 acres 0.290 acres
Gondogram, Bogura 0.270 acres 0.270 acres
Lakshimipur, Rajshahi City Corporation 0.149 acres 0.149 acres
Dogri Rajendrapur, Gazipur 18.441 acres 16.851 acres
Kashor Gore, Bhaluka, Mymensingh 36.738 acres 35.414 acres
Sagordighi, Tangail 13.805 acres 13.805 acres
Siddikhali, Tangail 1.050 acres 1.050 acres
Ghatail, Tangail 13.234 acres 13.234 acres
Dhamsur, Bhaluka, Mymensingh 26.370 acres 26.370 acres
Turag, Dhaka 0.949 acres 0.949 acres
Sreepur, Gazipur 13.830 acres 13.830 acres
Keranigonj, Dhaka 0.590 acres 0.590 acres
Faridpur Sadar, Faridpur 0.410 acres 0.410 acres
Debipur, Sarishadi, Feni Sadar 0.529 acres 0.529 acres
Chatropur, Mymensingh 0.558 acres 0.558 acres
Phulbaria, Mymensingh 8.503 acres 8.503 acres
Bypass Mor, Digharkanda, Mymensingh 0.035 acres 0.035 acres
Tetulia, Dakshin Surma, Sylhet 0.483 acres 0.483 acres
Betgari, Shajahanpur, Bogura 0.645 acres 0.645 acres
Lohaboy, Bhaluka 4.463 acres 4.463 acres
Narangi, Bhaluka 6.605 acres 6.605 acres
Batabaria and Haratoli, Sadar Dakshin, Cumilla 0.580 acres 0.580 acres
Salna, Purabari 0.307 acres 0.307 acres
Sathkhamair, Sreepur 8.229 acres 8.229 acres
Bhobainagar, Kotwali Sadar, Dinajpur 0.803 acres 0.803 acres
Uttam, Rangpur Sadar, Rangpur 0.710 acres 0.710 acres
Kandila, Gala, Tangail Sadar 1.400 acres - acres
Kalameshwar, Gazipur Sadar 0.509 acres - acres
Total 217.825 acres 213.002 acres
30 June 2020 30 June 2019

Taka Taka
5.3 Depreciation for the year has been charged to:
Cost of sales (Note-24.2) 747,358,167 645,887,883
Administrative expenses (Note-25) 17,521,334 15,512,068
Selling, marketing and distribution expenses (Note-26) 150,324,825 139,608,599
915,204,327 801,008,550
5.4 The freehold land and buildings were revalued by a firm of professional valuers in the year 1995 and the
increase in net carrying amount as a result of revaluation were shown as addition/valuation in that year.
5.5 Gain on disposal of property, plant and equipment

Amount in Taka
Original Accumulated Net book Sale Gain on disposal

cost depreciation value proceeds
2019-2020 2018-2019
36,523,503 36,523,503 - 13,932,500 13,932,500 3,272,756

6. Capital work in-progress 30 June 2020 30 June 2019
Taka Taka
Opening balance 1,492,889,354 1,168,163,935
Add: Amount of Renata Oncology Limited as at 01 July 2019 due to merger 186,128,891 -
Add: Addition during the year 1,858,751,220 1,386,142,130
3,537,769,465 2,554,306,065
Less: Capitalized as property, plant and equipment (Note-6.1) 1,623,298,181 1,061,416,711
1,914,471,284 1,492,889,354
This represents mainly construction of buildings for Bhaluka general manufacturing facility, Bhaluka animal health
nutrition facility, warehouse for sachet filling facility, Dinajpur depot, Rangpur depot, Mirpur research and
development lab unit, extension of Rajendrapur general manufacturing facility, extension of head office, installation of
plant and machinery, their components and other fixed assets procured from foreign and local vendors.
6.1 The break down of capitalized property, plant and equipment is as follows:
Buildings 515,891,343 107,727,340
Plant and machinery 995,590,779 938,334,912
Office equipment 6,873,721 14,286,169
Furniture and fixtures 104,942,339 1,068,290
1,623,298,181 1,061,416,711
7 Investment in subsidiaries No. of shares

30 June 2020 30 June 2019
Renata Agro Industries Limited (Note-7.1) 419,949 419,949 60,570,476 60,570,476

Purnava Limited (Note-7.2) 24,999 24,999 2,499,900 2,499,900
Renata Oncology Limited (Note-7.3) - 7,999,900 - 79,999,000
Renata (UK) Limited (Note-7.4) 1 1 110 110
Renata Pharmaceuticals (Ireland) Limited (Note-7.5) 1 1 9,610 9,610
444,950 8,444,850 63,080,096 143,079,096
7.1 Investment in subsidiary company - Renata Agro Industries Limited

Renata Limited acquired 99.99% of equity interest in Renata Agro Industries Limited (419,949 ordinary shares of
Taka 100 each) on 7 April 2001. Purchase consideration with regard to the acquisition of shares amounted to Taka
60,570,476. Renata Limited and Renata Agro Industries Limited have been operating under common control.
7.2 Investment in subsidiary company - Purnava Limited

Renata Limited acquired 99.99% of equity interest in Purnava Limited (24,999 ordinary shares of Taka 100 each) on
16 September 2004. Purchase consideration with regard to the acquisition of shares amounted to Taka 2,499,900
being face value of shares. Renata Limited and Purnava Limited have been operating under common control.
7.3 Investment in subsidiary company - Renata Oncology Limited

Renata Limited acquired 99.99% of equity interest in Renata Oncology Limited (7,999,900 ordinary shares of Taka
10 each) on 12 August 2012. Purchase consideration with regard to the acquisition of shares amounted to Taka
79,999,000 being face value of shares. Renata Limited and Renata Oncology Limited were operating under common
control. After approval of the Board of Directors and consent of minority shareholder, the Hon'ble High Court Division
of the Supreme Court of Bangladesh has sanctioned the scheme of amalgamation of Renata Oncology Limited with
Renata Limited with effect from the appointed date 01 July 2019.
7.4 Investment in subsidiary company - Renata (UK) Limited

Renata Limited acquired 100% of equity interest in Renata (UK) Limited (1 ordinary share of GBP 1 each) on 9 April
2018. Purchase consideration with regard to the acquisition of the share amounted to GBP 1 being face value of the
share. Renata Limited and Renata (UK) Limited have been operating under common control.
•85
7.5 Investment in subsidiary company - Renata Pharmaceuticals (Ireland) Limited
Renata Limited acquired 100% of equity interest in Renata Pharmaceuticals (Ireland) Limited (1 ordinary share of
Euro 100 each) on 24 April 2019. Purchase consideration with regard to the acquisition of the share amounted to Euro
100 being face value of the share. Renata Limited and Renata Pharmaceuticals (Ireland) Limited have been
operating under common control.
30 June 2020 30 June 2019

8 Inventories Taka Taka
Finished goods 470,647,908 302,270,610

- Pharmaceutical 499,232,619 471,852,094
- Animal health 222,869,490 66,530,007
- Contract manufacturing 59,929,124 37,850,392
- Potent product facility 256,294,095 116,846,881
- Cepha facility 50,129,354 71,839,900
- Penicillin facility 1,559,102,590 1,067,189,884
Work-in-process 357,440,076 307,184,878

Raw materials 393,038,704 407,591,705
Bulk materials 1,427,953,204 1,301,015,301
Packing materials 485,532,402 556,096,495
Consumable stores, spares and reagent materials 213,386,008 143,833,470
Stock in transit 773,813,230 530,357,501
5,210,266,214 4,313,269,234
Provision for obsolete inventories (83,641,974) (140,948,212)
5,126,624,240 4,172,321,022
9 Trade receivables
Trade receivables- unsecured (Note-9.1) 2,635,901,936 2,355,369,877

Allowances for doubtful receivables (92,117,621) (89,616,211)
2,543,784,315 2,265,753,666
9.1 Trade receivables disclosure as per Schedule-XI, Part-I, of the Companies Act, 1994
Receivables due below six months 2,299,435,004 2,146,506,486

Receivables due over six months 336,466,932 208,863,391
2,635,901,936 2,355,369,877
Trade receivables include Tk. 11,224,400 due from Renata Agro Industries Limited for the sale of nutritional
and animal health products during the year.
10 Other receivables
Inter-company receivables (Note-10.1)

- Renata Agro Industries Limited 173,087,841 75,364,295
- Purnava Limited 337,500,000 240,000,000
- Renata Oncology Limited - 340,383,656
- Renata (UK) Limited 55,247 55,247
Value Added Tax (VAT) recoverable 307,507,213 236,604,763
Others (Note-10.2) 197,126,676 193,981,260
1,015,276,977 1,086,389,221

30 June 2020 30 June 2019
10.1 Inter-company receivables include advances given to subsidiaries on need basis. Taka Taka
10.2 Others
Other receivables 199,045,501 195,900,085

Allowances for doubtful receivables (1,918,825) (1,918,825)
197,126,676 193,981,260
11 Advances, deposits and prepayments
Advances
Advance to employees for motorcycle 125,856,078 108,535,665

Advance to employees for scooter 34,500 217,500
Loan to employees against salary 49,013,224 49,147,221
Advance for house rent 6,102,975 11,384,978
Advance VAT 63,261,137 92,824,174
Advance for inventory (including Renata Oncology Limited) 98,181,723 54,031,292
Advance to field force (sales personnel) 17,707,192 15,351,250
Advance to staff against expenses (other than petty cash) 96,305,236 34,665,131
Advance to staff against petty expenses 1,489,500 1,481,500
Advance against tour expenses 6,087,900 9,499,757
Other advances 3,734,037 1,847,691
467,773,502 378,986,159
Deposits
Tender deposits 22,937,709 13,838,293

Gazipur Palli Bidyut Samity 14,248,000 14,248,000
Mymensingh Palli Bidyut Samity 12,256,000 12,256,000
Titas Gas Transmission and Distribution Co. Limited 5,783,100 5,783,100
Dhaka Electric Supply Co. (DESCO) Limited 2,310,000 2,310,000
Linde Bangladesh Limited 1,088,000 1,088,000
Bangladesh Ansar O Gram Protirokkha Bahini (Bangladesh Ansar and VDP) 536,461 536,461
Radisson Water Garden Hotel 200,000 200,000
Bangladesh Customs House, Dhaka Airport 200,000 200,000
Meghna Model Service Center 110,000 110,000
Bangladesh Power Development Board, Bogura 232,534 232,534
Bangladesh Power Development Board, Sylhet 90,000 90,000
Bangladesh Power Development Board, Faridpur - 75,000
Essence Industrial Gases Limited 135,000 30,000
Sundarban Industrial Complex Limited 79,865 -
HammerHead Bangladesh Limited 16,000 16,000
Bangladesh Petroleum Exploration & Production Co. Limited 7,000 7,000
Dhaka Medical College & Hospital 1,540 1,540
60,231,209 51,021,928
Prepayments
Insurance premium (including Renata Oncology Limited) 5,575,603 3,293,984

5,575,603 3,293,984
533,580,314 433,302,071
(a) All advances, deposits and prepayments are considered regular and recoverable in the normal course of business.
(b) The maximum amount due from officers (manager and above) against salary during the year was Tk. 21,318,424.
(c) No amount was due from the Directors, Managing agent, Managers and other officers of the Company and any of
them severally or jointly with any other person except as stated in (b) above.
•87
12 Investment in shares and FDR 30 June 2020 30 June 2019
Taka Taka
Investment in shares (Note-12.1) 75,040,731 104,670,189
Investment in FDR (Note-12.2) 4,646,061,526 3,476,731,835
4,721,102,257 3,581,402,024
Market value Cost
12.1 Investment in shares

30 June 2020 30 June 2019 30 June 2020
Taka Taka Taka
Square Pharma Limited 38,298,277 54,841,192 31,399,794
British American Tobacco Bangladesh Company Limited 10,000,844 15,075,094 3,376,292
Grameenphone Limited 9,552,000 14,588,000 14,948,644
Beximco Pharmaceuticals Limited 6,920,000 8,350,000 11,365,280
Shahjibazar Power Co. Ltd. 6,467,472 7,397,460 10,885,833
ACI Formulations Limited 1,653,000 2,286,000 3,242,427
Central Depository Bangladesh Limited (unquoted) 1,569,450 1,569,450 1,569,450
Marico Bangladesh Limited 579,688 562,993 428,334
75,040,731 104,670,189 77,216,054
30 June 2020 30 June 2019

12.2 Investment in FDR Taka Taka
Delta Brac Housing Finance Corporation Ltd. 665,849,838 820,470,622
IDLC Finance Limited 1,677,783,856 1,100,000,000
IPDC Finance Limited 1,948,938,831 1,213,698,212
Commercial Bank of Ceylon PLC (foreign currency (USD) FDR) 353,489,001 342,563,001
4,646,061,526 3,476,731,835
13 Cash and cash equivalents
Cash in hand 2,625,000 2,625,000
Cash at bank
Standard Chartered Bank 280,738,334 205,094,890
Eastern Bank Limited 312,906,954 276,418,400
Bank Asia Limited (including Renata Oncology Limited) 338,116,685 48,055,463
Commercial Bank of Ceylon PLC 56,380,178 140,398,765
Sonali Bank Limited 17,331,262 35,176,292
Citibank N. A. 32,940,926 15,527,098
Agrani Bank Limited 18,288,072 16,694,980
The City Bank Limited 9,850,116 30,202,732
BRAC Bank Limited 301,515,738 23,211,815
The Hongkong and Shanghai Banking Corporation Limited - 2,859,342
Prime Bank Limited - 90,397
United Commercial Bank Limited - 676,528
Bangladesh Commerce Bank Limited 93,084 96,274
1,368,161,349 794,502,976
Balance with City Bank Capital Resources Limited 1,976,157 851,289

Balance with ICB Securities Trading Company Limited 233,324 233,774
2,209,481 1,085,063
1,372,995,830 798,213,039

30 June 2020 30 June 2019
14 Share capital
Taka Taka
Authorized share capital
250,000,000 ordinary shares of Tk.10 each 2,500,000,000 1,000,000,000
Issued, subscribed and paid up capital
1,294,260 ordinary shares of Tk.10 each issued for cash 12,942,600 12,942,600
1,724,490 ordinary shares of Tk.10 each issued for consideration other than cash 17,244,900 17,244,900
85,570,492 ordinary shares (77,516,925 ordinary shares as at 30 June 2019) of
Tk.10 each issued as bonus shares 855,704,920 775,169,250
885,892,420 805,356,750
These shares are listed with Dhaka Stock Exchange Limited and quoted at Tk 1,026.20 per share on 30 June 2020.
As at 30 June 2020, the shareholding position of the Company was as follows:
Nationality/ Number of Face value % of total

Name of the shareholders Incorporated in shares Taka shareholdings
Sajida Foundation Bangladesh 45,180,129 451,801,290 51.00%

Business Research International Corp. Inc. Panama 19,262,801 192,628,010 21.74%
ICB Unit Fund Bangladesh 5,014,469 50,144,690 5.66%
Shadharan Bima Corporation Bangladesh 3,875,754 38,757,540 4.38%
Investment Corporation of Bangladesh Bangladesh 2,366,936 23,669,360 2.67%
Other shareholders Bangladesh & others 12,889,153 128,891,530 14.55%
88,589,242 885,892,420 100%
Classification of shareholders by holdings:
30 June 2020
No. of No. of
Holdings shareholders shareholders No. of total No. of % of total
as per folio as per BOID shareholders shareholdings shareholdings
Less than 500 shares 100 3,502 3,602 381,030 0.4%

501 to 5000 shares 45 841 886 1,400,885 1.6%
5,001 to 10,000 shares 13 99 112 781,366 0.9%
10,001 to 20,000 shares 12 68 80 1,211,873 1.4%
20,001 to 30,000 shares 10 16 26 657,905 0.7%
30,001 to 40,000 shares 2 10 12 435,498 0.5%
40,001 to 50,000 shares - 9 9 418,704 0.5%
50,001 to 100,000 shares 2 24 26 1,825,107 2.1%
100,001 to 1,000,000 shares 1 20 21 5,791,669 6.5%
Over 1,000,000 shares 2 4 6 75,685,205 85.4%
187 4,593 4,780 88,589,242 100%
•89
30 June 2020 30 June 2019
15 Revaluation surplus Taka Taka
Land 179,132,078 179,132,078

Buildings 26,642,865 27,278,749
205,774,943 206,410,827
Less: Depreciation adjustment on revalued buildings (635,885) (635,885)
205,139,058 205,774,942
Less: Adjustment of deferred tax on revaluation surplus (51,284,762) (51,443,734)
153,854,296 154,331,208
15.a Other reserves
The deficit amount of Tk. 43,065,180 of the net assets of Renata Oncology Limited over the net assets value of the
shares settled in consideration of cash by Renata Limited have been transferred and debited to “Other reserves” in the
books of Renata Limited pursuant to the Scheme of Amalgamation. This is the retained loss of Tk 43,066,180 of
Renata Oncology Limited net of consideration of share value of Tk. 1,000 (100 shares @ face value of Tk. 10 each) of
the minority shareholder.
16 Fair value reserve
Opening balance 24,708,298 25,223,220

Fair value adjustment on investment in shares, net of tax (26,666,085) (514,922)
Transfer between reserves- realised loss on disposal of shares - 112,598
(1,957,787) 24,708,298
17 Retained earnings
Opening balance 17,300,366,985 14,246,822,807

Stock dividend issued @ 10% for FY 2018-2019 (80,535,670) (105,046,529)
Final dividend (cash dividend @ 100% for FY 2018-2019) (805,356,750) (665,294,710)
Depreciation adjustment on revalued assets 635,885 635,885
Settlement in consideration of cash paid due to merger of
Renata Oncology Limited (454) -
Transfer between reserves- realised loss on disposal of shares - (112,598)
20,544,705,799 17,300,366,985

30 June 2020 30 June 2019
18. Deferred tax liabilities Taka Taka
Opening balance 1,303,839,631 1,209,208,777
Amount of Renata Oncology Limited as at 01 July 2019 due to merger 33,505,838 -
Addition during the year 105,569,771 94,630,854
1,442,915,240 1,303,839,631
Computation of deferred tax for the year ended 30 June 2020
Taxable/(deductible)
temporary Deferred tax
Carrying amount Tax base difference liabilities/ (assets)
Taka Taka Taka Taka
Property, plant and equipment 10,225,258,077 4,358,690,536 5,866,567,541 1,466,641,884

Provision for doubtful debt (94,036,446) - (94,036,446) (23,509,112)
Investment in shares 75,040,731 77,216,054 (2,175,323) (217,532)
Deferred tax liabilities/(assets) as at 30 June 2020 1,442,915,240
Amount of Renata Oncology Limited as at 01 July 2019 due to merger 33,505,838
Increase in deferred tax liabilites during the year 105,569,771
Allocation of deferred tax liabilites/(assets) during the year
Charged to fair value reserve (OCI) (2,962,899)

Adjustment for reduction of revaluation surplus due to charges of extra depreciation (158,972)
Charged to profit or loss 108,691,642
105,569,771
Taxable/(deductible)
temporary Deferred tax
Carrying amount Tax base difference liabilities/ (assets)
Taka Taka Taka Taka

Investment in shares 104,670,189 77,216,528 27,453,661 2,745,366
Increase in deferred tax liabilites/(assets) during the year 94,630,854
Allocation of deferred tax liabilites during the year
Charged to fair value reserve (OCI) (57,214)

Adjustment for reduction of revaluation surplus due to charges of extra depreciation (158,972)
94,630,854
•91
30 June 2020 30 June 2019
19 Short term bank loan and overdrafts Taka Taka
Eastern Bank Limited (Note-19.1) 37,623,723 52,269,803
The City Bank Limited (Note-19.2) 260,460,000 238,979,895
Standard Chartered Bank (Note-19.3) 834,648,149 1,076,367,260
Citibank N. A. (Note-19.4) 411,934,856 539,592,529
Bank Asia Limited (Note-19.5) 183,643,469 95,412,837
Commercial Bank of Ceylon PLC (Note-19.6) 1,252,411,185 559,984,391
United Commercial Bank Limited 415,693 -
2,981,137,076 2,562,606,715
The terms and conditions of the facility available for Overdraft, Acceptance, LATR,
Revolving, Import and Demand loan are as follows:
19.1 Eastern Bank LimitedDetails of facility:

Overdraft
Purpose : To finance overhead cost and duty payment.
Facility limit : Tk. 30 million.
Repayment : Within 365 days from the date of disbursement.
Letter of credit/ Acceptance (Sight / Usance) / Import finance

Purpose : To import plant and machinery and raw materials.
Facility limit : Combined Tk. 510 million.
Security
i) First charge over all present and future inventories and trade receivable of Renata Limited under
pari-passu security sharing agreement.
ii) First charge over all present and future plant and machinery of Renata Limited jointly as above.
iii) Registered hypothecation by way of pari-passu with RJSC on entire inventory book debts and other floating
assets and plant and machinery of the Company in favor of Eastern Bank Limited.
19.2 The City Bank Limited
Letter of credit / Acceptance (Sight / Usance) / Import finance / Short term loan
Purpose : To import API, excipient, packing and finished materials, to retire sight letter of
credit documents opened for procurement of API, excipient, packing and finished materials,
and for payment of duty and other charges related to import and VAT.
Facility limit : Combined Tk. 1,200 million.
Overdraft
Purpose : To meet the day to day operating, promotional, and marketing expenses.
Security
i) First charge over all present and future inventories and trade receivable of Renata Limited under pari-passu
security sharing agreement.
ii) First charge over all present and future plant and machinery of Renata Limited with RJSC on pari-passu
security sharing basis with the existing lenders.

19.3 Standard Chartered Bank
Letter of credit / Loan against trust receipt (LATR) / Acceptance

Purpose : To open letter of credits for import of raw materials, packing materials, capital machinery,
spares and other items required for regular course of business, for retirement of documents
of only sight letter of credits, and to provide acceptance against letter of credits issued by the bank.
Repayment : Within 180/365 days from the date of disbursement.
Overdraft
Purpose : For working capital purposes.
Repayment : Overdraft to be cleaned up for 3 days in one year.
Security
19.4 Citibank N. A.
Letter of credit / Acceptance (Sight / Usance) / Import finance

Purpose : To open letter of credits for import of raw materials, packing materials, capital machinery, spares
and other items required for regular course of business, and to refinance mport letter of credits.
Facility limit : Combined USD 17,000,000.
Short term loan

Purpose : To finance local purchase of active and raw materials, packing materials, capital machinery,
spares and other items required for regular course of business.
Overdraft
Purpose : To finance regular selling, general and administrative expenses.
Repayment : On demand.
Security
19.5 Bank Asia Limited
Revolving letter of credit

Purpose : To import raw materials, machineries and spare parts for the Company.
Revolving LATR
Purpose : Retirement of documents of only sight letter of credits.
•93
Overdraft
Purpose : For payment of duty VAT, taxes and operating expenses.
Revolving demand loan

Purpose : For procurement of pharmaceuticals and packing materials from local sources.
Security
19.6 Commercial Bank of Ceylon PLC
Facility limit : Tk. 1,500 million.

Security
30 June 2020 30 June 2019

20 Trade payables Taka Taka
Payable to suppliers (Including Renata Oncology Limited) 494,139,222 561,264,725
Toll manufacturing charges (Sharif and NAFCO) 14,374,691 7,117,888
508,513,913 568,382,613
Aging of the above payables is given below:
Payables due below six months 486,949,204 540,484,580

Payables due over six months 21,564,709 27,898,033
508,513,913 568,382,613
21 Other payables
VAT and other payables (including Renata Oncology Limited) 511,670,530 515,098,602
Advance from customers (Note-21.1) 537,525,993 5,296,645
Workers' participation fund (Note-21.2) 64,199,608 89,484,909
Provident fund (Note-21.3) 7,018,484 374,362
Unclaimed dividend (Note-21.4) 38,921,309 33,161,390
Export commission payable 29,159,816 6,896,754
Accrued interest 23,710,390 30,901,405
1,212,206,130 681,214,066
21.1 This amount represents advances received from customers against sales and for which respective sales have
accrued in the subsequent financial period.

30 June 2020 30 June 2019
21.2 Workers' participation fund Taka Taka
Opening Balance 89,484,909 256,219,571

389,085,304 516,908,433
Transferred during the year (324,885,696) (427,423,524)
64,199,608 89,484,909
21.3 Tk. 4,367,701 and Tk. 1,457,242 have been forfeited from the provident fund of outgoing employees from January
2015-June 2019 and from July 2019-June 2020 respectively. Renata Limited has successfully retrieved Tk. 3,576,963
(forfeited during January 2015-June 2019) and Tk. 1,457,242 (forfeited during July 2019-June 2020) from existing
employees by 30 June 2020. The process of retrieving the remaining amount of Tk. 790,738 (forfeited during January
2015-June 2019) from employees who have already left the Company is currently underway.
21.4 Unclaimed dividend
Unclaimed dividend upto 4 years 22,469,495 20,862,511

Unclaimed dividend above 4 years 16,451,814 12,298,879
38,921,309 33,161,390
22 Provision for taxation
Opening balance 800,430,247 805,538,964

Amount of Renata Oncology Limited as at 01 July 2019 due to merger 264,006 -
Provision made during the year 1,753,720,521 1,295,568,037
2,554,414,775 2,101,107,001
Payment made during the year (1,194,062,327) (1,300,676,754)
1,360,352,448 800,430,247
Amount in Taka
2019-2020 2018-2019
Gross Turnover Turnover

Less: VAT
Turnover (net) (net)
23 Turnover
Pharmaceutical products 19,850,794,477 2,827,864,890 17,022,929,587 16,001,877,678

Animal health products 5,112,741,626 433,223,658 4,679,517,968 3,820,687,501
Contract manufacturing 2,712,141,906 250,566,988 2,461,574,918 2,398,321,940
27,675,678,009 3,511,655,536 24,164,022,473 22,220,887,119
During the year, sale of pharmaceutical products includes export sales of Tk. 693,632,930 equivalent to US$
7,789,681 (Tk. 466,830,128 equivalent to US$ 5,558,351 for the year ended 30 June 2019).
•95
2019-2020 2018-2019
24 Cost of sales Tata Taka
Raw materials consumed - (Note-24.1) 9,502,475,691 7,562,961,901

Factory overhead - (Note-24.2) 3,662,243,626 3,454,689,705
Manufacturing costs 13,164,719,317 11,017,651,606
Add: Opening work-in-process 307,184,878 227,932,482
13,471,904,195 11,245,584,088
Less: Closing work-in-process 357,440,076 307,184,878
Cost of goods manufactured 13,114,464,119 10,938,399,210
Add: Opening finished goods 1,067,189,884 1,194,756,581
Add: Opening finished goods of Renata Oncology Limited
as at 01 July 2019 due to merger 10,356,340 -
Cost of goods available for sale 14,192,010,343 12,133,155,791
Less: Closing finished goods 1,559,102,590 1,067,189,884
12,632,907,753 11,065,965,907
24.1 Raw materials consumed
Opening stock 2,264,703,501 1,884,575,908

Add: Opening stock of Renata Oncology Limited as at 01 July 2019 due to merger 18,387,610 -
Add: Purchase during the year 9,525,908,890 7,943,089,494
Total materials available 11,809,000,001 9,827,665,402
Less: Closing stock 2,306,524,310 2,264,703,501
Raw materials consumed 9,502,475,691 7,562,961,901
24.2 Factory overhead
Salaries, wages and other benefits 1,165,718,619 1,014,357,952

Factory employees’ free lunch, snacks and tea expenses 146,198,286 174,796,956
Uniform for workers 10,549,879 15,010,179
Travelling and conveyance 92,917,965 79,190,337
Stationeries and supplies 50,893,250 52,608,592
Postage, telex, fax and telephone 5,430,599 14,216,087
Repairs and maintenance 395,466,260 475,292,469
Consumable stores and laboratory supplies 195,023,947 201,811,978
Electricity, fuel, gas and water 598,047,171 585,366,849
Rent 8,114,396 1,280,368
Registration and renewals 2,875,129 2,709,436
Insurance premium 8,686,329 6,311,266
Depreciation (Note-5.3) 747,358,167 645,887,883
Cleaning & security services 70,924,592 59,069,950
Automobile expenses 22,839,642 22,863,168
Toll charges 137,356,753 98,340,729
Training expenses 623,448 3,238,591
Other expenses 3,219,195 2,336,915
3,662,243,626 3,454,689,705
24.3 Purchases, issues and stocks of raw materials

Purchases, issues and stocks of raw materials are of over 3,000 items involving production of 840 finished goods
formulations. The measurement is expressed in different units i.e. kilogram, liter, pieces. In view of different units in
use, the following table has been presented in value only.

Opening stock
Opening of Renata
Major material group
stocks Oncology
Limited as at Purchases Consumption Closing stocks
01 July 2019
due to merger
Bulk materials 1,301,015,301 5,242,568 5,268,013,505 5,146,318,170 1,427,953,204

Raw materials 407,591,705 12,670,534 1,972,182,119 1,999,405,654 393,038,704
Packing materials 556,096,495 474,508 2,285,713,266 2,356,751,867 485,532,402
2,264,703,501 18,387,610 9,525,908,890 9,502,475,691 2,306,524,310
Consumable stores 12,733,075 - 64,986,706 61,862,940 15,856,841

Maintenance stores and spares 131,100,395 4,195,722 370,528,034 308,294,985 197,529,166
143,833,470 4,195,722 435,514,740 370,157,925 213,386,007
2,408,536,971 22,583,332 9,961,423,630 9,872,633,616 2,519,910,317
As per Part II of Schedule XI of the Companies Act, 1994 the quantities of raw materials, purchases and stocks
should be expressed in quantitative denomination. However, this could not be provided as the Company deals with
large number of products both locally made and imported.
Materials available in local market are procured from the local manufacturers. Materials are imported from the
following countries either directly from the manufacturers or suppliers approved by the Drug Administration:
India Japan Italy New Zealand

China Thailand Denmark Indonesia
Hong Kong South Korea Spain Argentina
Singapore United States of America (USA) Germany Brazil
Malaysia United Kingdom (UK) Austria Czech Republic
2019-2020 2018-2019
25 Administrative expenses
Taka Taka
Salaries, wages and allowances 230,939,161 204,553,776
Training expenses 3,317,524 881,700
Employees’ free lunch, snacks and tea expenses 31,472,419 30,161,976
Staff uniform 379,993 563,521
Rent 8,352,425 6,857,985
Govt. taxes and license fees 2,231,448 3,066,761
Software and hardware support services 19,536,929 28,608,045
Legal and professional expenses 504,500 207,091
Audit fees 962,500 805,000
Board meeting attendance fee 300,000 430,000
Subscription and membership fees 1,559,610 4,479,715
Meeting and corporate expenses 16,152,192 13,508,097
AGM expenses 367,804 1,985,560
Health and safety 85,826 -
Other expenses 21,215,585 22,042,678
457,872,424 434,332,663
•97
2019-2020 2018-2019
26 Selling, marketing and distribution expenses
Taka Taka
Salaries, wages and allowances 1,926,845,117 1,679,794,345
Training expenses 8,779,279 5,619,687
Staff uniform 2,086,605 2,009,858
Rent 23,201,120 25,948,698
Journal and advertisement 27,183,119 32,987,729
Free sample 123,509,318 111,280,168
Marketing and sales promotional expenses 359,649,656 1,152,915,446
Product literature 258,739,078 255,154,376
Distribution expenses 471,899,408 424,689,528
Export expenses 42,666,942 41,670,320
Special discount 435,057,023 371,208,478
Health and safety 1,293,214 18,887,605
Other expenses 172,183,013 87,630,614
5,102,559,584 5,370,161,610
27 Other Income
Scrap sales and others 13,205,082 13,713,398

Dividend income 3,475,453 3,782,466
Interest income 513,472,412 254,116,872
Gain/ (loss) on disposal of property, plant and equipment (Note-5.5) 13,932,500 3,272,756
544,085,447 274,885,492
28 Finance costs
Interest expenses 149,584,763 115,080,137

Exchange loss 57,250,283 19,319,555
Bank charges 16,324,752 16,446,670
223,159,798 150,846,362
29 Tax expenses
Current tax 1,753,720,521 1,295,568,037

Deferred tax 108,691,642 94,847,040
1,862,412,163 1,390,415,077

29.1 Reconciliation of effective tax rate 2019-2020 2018-2019
% %
Taka Taka

Applicable tax 25.00% 1,498,001,991 25.00% 1,303,444,301
Tax impact of prior year adjustment 4.05% 242,580,446 0.69% 35,905,180
Effect of foreseeable non deductible expenses 0.58% 34,638,858 -0.59% (30,876,594)
Effect of lower rate on export profit -0.33% (19,933,751) -0.24% (12,388,451)
Effect of lower rate on gain on disposal of property,
plant and equipment -0.02% (1,393,250) -0.01% (327,276)
Effect of lower rate on dividend income -0.003% (173,773) -0.004% (189,123)
Effective current tax 29.27% 1,753,720,521 24.85% 1,295,568,037
Effective deferred tax 1.81% 108,691,642 1.82% 94,847,040
31.08% 1,862,412,163 26.67% 1,390,415,077
30 June 2020 30 June 2019

30 Net asset value (NAV) per share Taka Taka
The computation of NAV is given below:
Equity attributable to the ordinary shareholders 21,539,429,548 18,284,763,241

Weighted average number of ordinary shares outstanding during the year (Note-30.1) 88,589,242 88,589,242
Net asset value (NAV) per share 243.14 206.40
Last year's NAV has been adjusted due to issuance of bonus shares.
30.1 Weighted average number of ordinary shares outstanding during the year
Opening number of shares 80,535,675

Bonus shares issued in December 2019 8,053,567
88,589,242
31 Basic earnings per share (EPS)

2019-2020 2018-2019
The computation of EPS is given below: Taka Taka
Earnings attributable to the ordinary shareholders (net profit after tax for the year) 4,129,595,803 3,823,362,130
Basic earnings per share (EPS) 46.62 43.16
Last year's EPS has been adjusted as per the requirement of IAS 33 "Earnings Per Share".
32 Net cash generated from operating activities

Adjustments for:
Depreciation and amortization expenses 915,204,327 801,008,550
Provision for bad debts & others 2,501,410 22,042,677
Finance costs 223,159,798 150,846,362
(Gain)/ loss on disposal of property, plant and equipment (13,932,500) (3,272,756)
Cash generated from operations before changes in working capital 7,118,941,001 6,184,402,040
•99
2019-2020 2018-2019
Taka Taka
Adjustments for:
(Increase)/ decrease in inventories (921,363,546) (414,559,417)
(Increase)/ decrease in trade receivables (280,667,248) (76,303,805)
(Increase)/ decrease in other receivables (269,271,414) (182,663,047)
(Increase)/ decrease in advances, deposits and prepayments (99,000,486) 28,083,685
Increase/ (decrease) in trade payables (60,028,743) 346,036,516
Increase/ (decrease) in other payables 532,388,661 (278,899,422)
Finance costs (228,041,378) (150,177,868)
Payment of tax (1,194,062,327) (1,300,676,754)
Net cash generated from operating activities 4,598,894,521 4,155,241,928
33 Net operating cash flow per share
The computation of net operating cash flow per share is given below:

Net operating cash flow per share 51.91 46.90
Last year's net operating cash flow per share has been adjusted due to issuance of bonus shares.
34 Payments to Directors and officers

The aggregate amount paid (except Directors' fees for attending board meetings) during the year to Directors and
officers of the Company is disclosed below as required by the Securities and Exchange Rules-1987:
Amount in Taka
Directors Officers
Short-term employee benefits
Remuneration 13,697,866 571,132,640
House rent 8,038,930 424,177,979
Bonus 5,707,445 245,701,674
Conveyance allowance and transport 3,372,835 179,037,863
Other welfare expenses 5,767,060 49,350,972
Post-employment benefits
Contribution to provident fund 1,369,787 55,999,081
Gratuity 1,712,233 81,287,767
39,666,156 1,606,687,976
34.1 During the year, no payment has been made to any non-executive Directors for any special services rendered.
35 Contingent liabilities
35.1 There are contingent liabilities on account of unresolved disputed corporate income tax assessments involving tax
claims by the tax authority amounting to Tk. 3,555,060 for the assessment year 2000-01, Tk. 11,888,503 for the
assessment year 2013-14 and Tk. 14,478,424 for the assessment year 2014-2015 which are pending before the
Hon'ble High Court Division of the Supreme Court, and Tk. 33,196,071 for the assessment year 2018-2019 awaiting
for appeal to be filed by us with the Taxes Appellate Tribunal.
35.2 The Assistant Commissioner of Taxes issued a notice vide letter No. SA-162/2014-2015/82 on 01 September 2014
claiming that during the assessment year 2008-09 (income year 2007), the Company did not deduct VAT on certain
accounting heads amounting to Tk. 245,280,917 and tax file reopened accordingly under Section 93 of the Income
Tax Ordinance, 1984. Total tax amount was calculated Tk. 73,584,275 on that claimed amount by using the prevailing
corporate tax rate 30%. However, the Hon'ble High Court delivered the verdict in favour of the Company on 6 January
2016 but the National Board of Revenue has made leave to appeal to the Supreme Court Appellate Division against
the verdict.

36 Claims by the Company not acknowledged as receivable
None as at 30 June 2020.
37 Commitments
On the statement of financial position date, the Company is enjoying 30 June 2020 30 June 2019
unfunded credit facilities from the following banks: Taka Taka
Letters of credits (Note-37.1) 2,426,510,888 1,745,661,987
Outstanding guarantees issued by the banks 220,823,176 666,110,566
Capital expenditure commitments 7,912,299,499 7,691,345,783
10,559,633,563 10,103,118,336
37.1 Letters of credits Limit
Standard Chartered Bank 2,000,000,000 522,772,727 531,308,481

Eastern Bank Limited 500,000,000 149,819,885 4,744,793
The City Bank Limited 1,200,000,000 121,384,551 152,672,024
Citibank N.A. 1,595,180,000 625,966,947 190,372,485
Commercial Bank of Ceylon PLC 1,350,000,000 682,802,262 715,400,964
Bank Asia Limited 600,000,000 323,764,516 151,163,240
7,245,180,000 2,426,510,888 1,745,661,987
38 Dividend paid to non-resident shareholders

Final dividend paid to non-resident shareholder, Business Research International Corp. Inc. for the year 2018-2019
was Tk. 140,093,104 equivalent to US$ 1,632,786.76 for their 17,511,638 shares.
39 Disclosure as per requirement of Schedule XI, Part II of the Companies Act, 1994
39.1 Employee position of Renata Limited as per requirement of schedule XI, part II, Para-3
The company engaged 7,710 (6,886 as at 30 June 2019) employees as of June 2020, of which 5,113 (4,642 as at 30
June 2019) is permanent employees and 2,597 (2,244 as at 30 June 2019) is casual and temporary workers as
required. All employees received total salary of above Tk. 36,000 per annum.
39.2 Capacity utilization

Production capacity and current utilization as required by the Companies Act 1994, Schedule-XI, para-7. The
Company operates multi-product plants. As a result plant utilization is not comparable with capacity due to variation
of product mix. However, actual production and utilization for major product groups are as follows:
2019-2020 2018-2019
Actual Actual
Major product group / Unit Capacity production Utilization production Utilization
(In ’000) (In ’000) % (In ‘000) %
Sterile dry fill (injectable) / Vials 8,155 10,003 122.66% 9,524 127.84%
Sterile liquid (inj) / Vials / Ampoules 15,350 23,016 149.94% 21,739 162.96%
Ointments / Tubes 1,500 775 51.67% 773 51.53%
Capsules and tablets / Cap / Tab 2,116,550 2,854,425 134.86% 2,595,456 151.34%
Oral liquid & dry syrup / Bottles 19,650 33,744 171.73% 32,923 185.59%
Water for injection / Ampoules 9,400 11,131 118.41% 10,953 128.86%
Premix feed supplement / Kg 5,900 7,390 125.25% 7,190 148.25%
Premix feed supplement / Sachets 6,800 8,386 123.32% 6,778 202.33%
Oral saline / Sachets 540,000 692,738 128.28% 543,024 152.96%
Potent Products / Tablets 2,650,000 2,957,601 111.61% 2,879,215 117.04%
•101
Foreign Local
40 Payments / receipts in foreign currency
currency currency
40.1 During the year, the following payments were made in foreign currency for USD Taka
imports, calculated on CIF basis of:
Raw, bulk and packing materials 86,057,192 7,277,856,759

Machinery and spares 14,635,733 1,237,743,949
100,692,925 8,515,600,708
40.2 Foreign exchange was earned in respect of the following:

Export of goods on FOB USD 7,789,681
41 Related party disclosures

During the year the Company carried out a number of transactions with related parties in the normal course of
business on an arm's length basis. Name of those related parties, nature of those transactions and their total value
have been shown in the table below in accordance with IAS 24 "Related Party Disclosures".
Nature of Value of Balance at

Name of related parties Relationship
transactions Transaction year end
1. Sajida Foundation Parent Dividend paid 410,728,450 -

Acquisition of land 190,000,000 -
CSR for COVID-19 80,000,000 -
2. Renata Agro Industries Limited Subsidiary Sale of goods 18,083,430 11,224,400
Advance 97,723,546 173,087,841
3. Purnava Limited Subsidiary Sale of goods 150,478,857 -
Advance 97,500,000 337,500,000
4. Renata (UK) Limited Subsidiary Advance - 55,247
42 General
1) All the figures in the financial statements represent Bangladesh Taka currency rounded off to the nearest Taka.
2) The comparative information have been disclosed in respect of the year 2019-2020 for all numerical
information in the financial statements and also the narrative and descriptive information as found relevant for
understanding of the current year's financial statements.
43 Events after the reporting period

Amount to be distributed as dividend
The Board of Directors in their meeting held on 26 October 2020 have recommended cash dividend @ 130% per
share of Taka 10 each aggregating Taka 1,151,660,146 and stock dividend @ 10% of Taka 10 each aggregating Taka
88,589,242 for the year ended 30 June 2020 subject to approval of the shareholders in the Annual General Meeting
scheduled to be held on 19 December 2020. The financial statements for the year ended 30 June 2020 do not
include the effects of the above cash dividend and stock dividend which will be accounted for in the period when
shareholders' right to receive the payment will be established. The declared dividend is also in compliance with
section 16G of Income Tax Ordinance 1984.
Other events
There are no other material events identified after the statement of financial position date which require adjustment or
disclosure in these financial statements.
Place: Dhaka
Report and Financial Statements as at and for the year ended 30 June 2020
Board of Directors
• Mr. Kaiser Kabir, Chairman
• Mr. Md. Jubayer Alam, Director
• Mr. Nehal Ahmed, Independent Director
•103
The core business of Renata Agro has hitherto been the production of Day-Old-Chicks (DOCs). Due to
a structural shift in the poultry industry, Feed has now become the main profit earner for most of the
large companies, while the DOC business has been relegated to a secondary status.
Since Renata Agro does not operate in the commercial feed market, we have suffered badly due to
this shift in the Industry. Moreover, in the last financial year, the DOC market, in part due to the
Covid-19 pandemic experienced a severe downturn.
Given the bleak outlook for DOC as a stand-alone business, in Q2 we shifted our business model
towards producing specialty eggs and branded chicken meat exclusively for Purnava Limited. Given
the growing popularity of O3 and Vitamin-E eggs, we are hopeful that this shift to producing
commercial eggs augurs well for the Company. The breeder operation has been scaled down and its
output is largely used in the production of the newly launched Lal Jhunti chicken meat.
Although, the Company continues to make losses, the new business model has significantly cut down
losses from Q2 onwards.
Kaiser Kabir
Chairman
26 October 2020

AUDITOR'S REPORT
TO THE SHAREHOLDERS OF
RENATA AGRO INDUSTRIES LIMITED
Report on the audit of the Financial Statements so, consider whether the other
information is materially in consistent
Opinion with the financial statements of our
We have audited the financial statements of RENATA knowledge obtained in the audit or
AGRO INDUSTRIES LIMITED, which comprise the otherwise appears to be materially
statement of financial position as at 30 June 2020 and the misstated.
statement of profit or loss and other comprehensive Responsibilities of Management and
income, statement of changes in equity and statement of Those Charged with Governance for
cash flows for the year then ended and notes to the the Financial Statements
financial statements, including a summary of significant
accounting policies. Management of RENATA AGRO
INDUSTRIES LIMITED is responsible for
In our opinion, the accompanying financial statements give the preparation and fair presentation of
a true and fair view, in all material respects, of the financial the Financial Statements in accordance
position of the company as at 30 June 2020 and of its with International Financial Reporting
financial performance and its cash flows for the year then Standards (IFRSs), the Companies Act
ended in accordance with International Financial Reporting 1994 and other application Laws and
Standards (IFRSs). Regulation and for such internal control
Basis for Opinion as management determines is necessary
to enable the preparation of financial
We conducted our audit in accordance with International statements that are free from material
Standards on Auditing (ISAs). Our responsibilities under misstatement, whether due to fraud or
those standards are further described in the Auditor's error.
Responsibilities for the Audit of the Financial Statements
section of our report. We are independent of the Company In preparation the financial statements,
in accordance with the International Ethics Standards management is responsible for
Board of Accountants' Code of Ethics for Professional assessing the Company's ability to
Accountants (IESBA Code) together with the ethical continue as a going concern, disclosing,
requirements that are relevant to our audit of the Financial as applicable, matters related to going
Statements in Bangladesh, and we have fulfilled our other concern and using the going concern
ethical responsibilities in accordance with these basis of accounting unless management
requirements and the IESBA Code. We believe that the either intends to liquidate the company or
audit evidence we have obtained is sufficient and to cease operations, or has no realistic
appropriate to provide a basis for our opinion. alternative but to do so.
Other Information Those charged with governance are

responsible for overseeing the
"The management of RENATA AGRO INDUSTRIES Company's financial reporting process.
LIMITED is responsible for the other information. The other
information comprises all of the information in the Annual Auditor's Responsibilities for the
Report other than the financial statements and our auditor’s audit of the financial statements
report thereon. The annual report is expected to be made Our objectives are to obtain reasonable
available to us after the date of this auditor’s report." assurance about whether the financial
Our opinion on the financial statements does not cover the statements as a whole are free from
other information and we do not express any form of material misstatement, whether due to
assurance conclusion thereon. fraud or error, and to issue an auditor's
report that includes our opinion.
In connection with our audit of the financial statements, our Reasonable assurance is a high level of
responsibility is to read the other information and, in doing assurance, but is not a guarantee that an
•105
audit conducted in accordance with International Standards within the company to express an
on Auditing (ISAs) will always detect a material opinion on the financial statements.
misstatement when it exists. Misstatements can arise from We are responsible for the direction,
fraud or error and are considered if, individually or in the supervision and performance of the
aggregate they could reasonably be expected to influence audit. We remain solely responsible for
the economic decisions of users taken on the basis of our audit opinion.
these financial statements. We also provide those charged with
As part of an audit in accordance with ISAs, we exercise governance with a statement that we
professional judgment and maintain professional have complied with relevant ethical
skepticism throughout the audit. We also: requirements regarding independence,
and to communicate with them all
● Identify and assess the risks of material misstatement of relationships and other matters that may
the financial statements, whether due to fraud or error, reasonably be thought to bear on our
designed and performed audit procedures responsive to independence, and where applicable,
those risks, and obtain audit evidence that is sufficient related safeguards.
and appropriate to provide a basis for our opinion. The
risk of not detecting a material misstatement resulting Report on Other Legal and Regulatory
from fraud is higher than for one resulting from error, as Requirements
fraud may involve collusion, forgery, intentional In accordance with the Companies Act
omissions, misrepresentations, or the override of internal 1994 and other applicable laws and
control. regulations, we also report the following:
● Obtain an understanding of internal control relevant to (a) we have obtained all the information and
the audit in order to design audit procedure that as explanations which to the best of our
appropriate in the circumstances, but not for the purpose knowledge and belief were necessary
of expressing an opinion on the effectiveness of the for the purposes of our audit and made
company's internal control. due verification thereof;
● Evaluate the appropriateness of accounting policies used (b) in our opinion, proper books of account
and the reasonableness of accounting estimates and as required by law have been kept by
related disclosures made by management. the company so far as it appeared from
● Conclude on the appropriateness of management's use our examination of those books; and
of the going concern basis of accounting and, based on
(c) the statement of financial position and
the audit evidence obtained, whether a material
statement of profit or loss and other
uncertainty exists related to events or conditions that comprehensive income dealt with by the
may cast significant doubt on the company's ability to report are in agreement with the books
continue as a going concern. If we conclude that a of account.
material uncertainty exists, we are required to draw
attention in our auditor's report to the related disclosures
in the financial statements or, if such disclosures are
inadequate, to modify our opinion. Our conclusions are
based on the audit evidence obtained up to the date of
our auditor's report. However, future events or conditions
may cause the company to cease to continue as a going
concern.
K.M. HASAN & CO.
● Evaluate the overall presentation, structure and content
of the financial statements, including the disclosures, and
whether the financial statements represent the underlying Place: Dhaka, Bangladesh.
transactions and events in a manner that achieves fair Dated: 26 October 2020
presentation and
● Obtain sufficient appropriate audit evidence regarding the
financial information of the entities or business activities

Renata Agro Industries Limited
AS AT 30 JUNE 2020
Amount in Taka
ASSETS Notes 30 June 2020 30 June 2019

Non-current assets
Property, plant and equipments 5 416,492,506 451,201,245
Capital work-in-progress 6 106,261,527 26,279,858
Long term investment 7 10,000,000 10,936,180
532,754,033 488,417,283
Current assets
Investment in shares and others 8 85,816,797 101,332,570
Inventories 9 60,589,783 103,445,871
Trade and other receivables 10 33,030,477 41,178,546
Cash and cash equivalents 12 23,258,405 36,796,563
227,387,858 301,354,439
Total assets 760,141,891 789,771,722

Equity and reserve
Share capital 13 42,000,000 42,000,000
Tax holiday reserve 46,643,337 46,643,337
Reserve for unrealized gain 15,669,164 29,633,360
Retained earnings 354,436,623 458,243,502
458,749,124 576,520,199
Non- current liabilities

Deferred tax liability 14 6,292,793 8,080,740
6,292,793 8,080,740
Current liabilities
Trade and other payables 15 25,696,469 19,218,119

Cost accrual 16 16,793,273 18,866,844
Provision and other liabilities 17 248,199,937 163,623,452
Provision for income tax 18 4,410,295 3,462,369
295,099,974 205,170,784
Total equity and liabilities 760,141,891 789,771,722
Annexed notes form an integral part of these financial statements
Director General Manager Chairman
Signed in terms of our report of even date annexed.
Place: Dhaka, Bangladesh K.M. HASAN & CO.

Dated: 26 October 2020 Chartered Accountants
•107
STATEMENT OF PROFIT OR LOSS &
OTHER COMPREHENSIVE INCOME
Amount in Taka
Notes 30 June 2020 30 June 2019
Revenue 19 301,677,074 446,891,045

Cost of sales 20 (363,423,472) (423,854,950)
GROSS PROFIT/(LOSS) (61,746,398) 23,036,095

Marketing expenses 22 (8,917,031) (11,688,689)
Distribution expenses 23 (11,158,176) (20,007,600)
(39,800,150) (50,078,496)
OPERATING PROFIT/(LOSS) (101,546,548) (27,042,401)
Finance income 24 2,370,795 4,371,934

Finance expenses 25 (3,919,569) (3,129,929)
(1,548,774) 1,242,005
Profit/ (Loss) before contribution to BPPF (103,095,322) (25,800,396)
Contribution to BPPF - -
Profit/(loss) before income tax (103,095,322) (25,800,396)
Provision for tax:
Deferred tax 14 236,369 (24,432)
Current tax 18 (947,926) (762,670)
(711,557) (787,102)
Net profit/(Loss) after income tax (103,806,879) (26,587,498)
Other comprehensive income:
Unrealized gain/(loss) on marketable securities net off tax (13,964,196) (1,890,471)
Total comprehensive income (117,771,075) (28,477,969)
Basic Earnings Per Share (EPS) 26 (247.16) (63.30)
Annexed notes form an integral part of these financial statements


Amount in Taka
Reserve for
Tax Holiday unrealized Retained
Particulars Share Capital reserve gain Earnings Total
Balance as at 01 July 2019 42,000,000 46,643,337 29,633,360 458,243,502 576,520,199

Net Profit/ (Loss) after tax - - - (103,806,879) (103,806,879)
Unrealized gain/ (Loss) - - (13,964,196) - (13,964,196)
BALANCE AS AT 30 JUNE 2020 42,000,000 46,643,337 15,669,164 354,436,623 458,749,124
For the year ended 30 June 2019

Amount in Taka
Reserve for
Tax Holiday unrealised Retained
Particulars Share Capital reserve gain Earnings Total
Balance as at 01 July 2018 42,000,000 46,643,337 31,523,831 484,831,000 604,998,168

Net Profit/ (Loss) after tax - - - (26,587,498) (26,587,498)
Unrealized gain/ (Loss) - - (1,890,471) - (1,890,471)
BALANCE AS AT 30 JUNE 2019 42,000,000 46,643,337 29,633,360 458,243,502 576,520,199

•109
Amount in Taka
A. CASH FLOWS FROM OPERATING ACTIVITIES

30 June 2020 30 June 2019
Collection from customers and others 309,825,143 432,718,669
Payment to suppliers and employees (191,616,279) (342,116,201)
Cash paid for operating expenses and others (46,020,501) (23,334,220)
Cash generated from operation 72,188,363 67,268,248
Income tax paid (1,944,727) (2,762,065)
Financial expenses (3,919,569) (3,129,929)
Net cash provided from operating activities 66,324,067 61,376,254
B. CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of property, plant and equipments (444,000) (52,243,497)
Disposal of property, plant and equipments 1,400,000 -
Capital work- in- progress (83,560,676) (3,942,302)
Investment in FDR - 30,000,000
Invest income 2,092,451 4,371,934
Investment in Govt. Saving Certificate 650,000 -
Net cash used in investing activities (79,862,225) (21,813,865)
C. CASH FLOWS FROM FINANCING ACTIVITIES

Bank overdraft (paid)/received - (10,879,800)
Net cash (used in)/inflows from financing activities - (10,879,800)
Net cash and cash equivalents inflows/(outflows) for the year (A+B+C) (13,538,158) 28,682,589
Add: Opening cash and cash equivalents 36,796,563 8,113,974
Closing cash and cash equivalents 23,258,405 36,796,563
Place: Dhaka, Bangladesh

Dated: 26 October 2020

AS AT AND FOR THE YEAR ENDED 30 JUNE 2020
1. STRUCTURE OF THE COMPANY
1.1 Renata Agro Industries Limited is a private company limited by shares incorporated on 07 September 1997 in
Bangladesh under the Companies Act, 1994. The shares of the company shall be under the control of the Directors of
the company.
1.2 Registered Office and Principal Place of Business

The registered office of the Company is situated at Plot No. 01, Section - 07, Milk Vita Road, Mirpur, Dhaka-1216. The
farm is located at Barakashar, Bhaluka, Mymensingh.
2. NATURE OF BUSINESS ACTIVITIES

The principal activities of the company are to carry out business for production and sale of various agro based
products and poultry breeding & hatching and sale of poultry products. The company commenced its commercial
operation from October 1998.
3. PRINCIPAL ACCOUNTING POLICIES
3.1 Basis of Accounting

The financial statements have been prepared under historical cost convention in accordance with International
Financial Reporting Standards (IFRSs).
3.2 Compliance with Local Laws

The financial statements have been prepared in compliance with the Companies Act, 1994 and other relevant local laws
and rules.
3.3 Component of the Financial Statements
According to the International Accounting Standards "IAS-1", "Presentation of Financial Statements" to complete set of
Financial Statements include the following components:
(a) Statement of Financial Position as at 30 June 2020.
(b) Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June 2020.
(c) Statement of Changes in Equity for the year ended 30 June 2020.
(d) Statement of Cash Flows for the year ended 30 June 2020.
(e) Notes to the Financial Statements as at and for the year ended 30 June 2020.
3.4 Risk and uncertainties for use of estimates in preparation of Financial Statements
The preparation of financial statements in conformity with the International Accounting Standards (IASs) require
management to make estimates and assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of financial statements, and revenues and expenses during
the year. Actual results could differ from those estimates. Estimates are used for accounting of certain items such as
provision for doubtful accounts, depreciation, taxes, reserves and contingencies.
3.5 Reporting Period

Financial statements of the Company cover the year from 01 July 2019 to 30 June 2020.
3.6 Property, Plant & Equipment

Property, Plant and Equipments are stated at cost less accumulated depreciation in accordance with IAS 16 "Property,
Plant and Equipment." Cost represents cost of acquisition.
•111
No depreciation is charged on land and land development. Depreciation on all other fixed assets is charged on straight
line method in amount sufficient to write off depreciable assets over their estimated useful life. Depreciation is charged
for the full year on assets acquisitioned during the year. The rates of depreciation are indicated in Note-5.
Depreciation has been allocated on farm overhead expenses, vitamin-E eggs expenses, omega-03 project,
administrative expenses, distribution expenses, hatchery expenses, feed mill expenses, marketing expenses and
laboratory expenses proportionately. The allocation of depreciation is indicated in Note-5.
3.7 Inventories
Inventories comprise of parent stock -broiler, parent stock- vitamin-E, parent stock- layer, feed stock, medicine, feed
mill ingredient, litter, generator fuel, LP gas, layer eggs-03, omega-03 feed, vitamin-E feed and vitamin-E eggs . All
these are stated at cost and considered as realizable value. No due allowance for any obsolete or slow moving items
have been accounted for.
3.8 Trade and other Receivables

Trade and other receivables have been considered good and collectible, and therefore, no amount was considered
doubtful to provide for.
3.9 Cash and Cash Equivalents

According to IAS-7 " Statement of Cash Flows ", Cash comprises cash in hand and demand deposits and cash
equivalents are short term, highly liquid investments that are readily convertible to known amounts of cash and which
are subject to an insignificant risk of changes in value. IAS-1 "Presentation of Financial Statements" provides that Cash
and Cash Equivalents are not restricted in use. Considering the provisions of IAS-I & IAS-7, cash in hand and bank
balance have been considered as cash and cash equivalents.
3.10 Statement of Cash Flows

Statement of Cash Flows is prepared principally in accordance with IAS-7 "Statement of Cash Flows" and the cash flow
from operating activities has been presented under direct method.
3.11 Trade and other Payables

Liabilities are recognized for amounts to be paid in future for goods and services received, whether or not billed by the
suppliers and service provider.
3.12 Revenue from Sales

Sales comprise the invoice value of goods supplied by the company and consists of local sales of products.
3.13 Revenue Recognition

The revenues are recognized under satisfying all the conditions for revenue recognition as provided in International
Financial Reporting Standards (IFRS-15) "Revenue from Contracts with Customers".
(i) Sales are recognized at the time of delivery of products from the farm whether billed or not.
(ii) Other sales are recognized at the time of delivery from the farm.
3.14 Earnings Per Share (EPS)

The company calculates Earnings Per Share (EPS) in accordance with IAS 33 “Earnings Per Share” which has been
shown on the face of Income Statement and the computation of EPS is stated in Note -26.
Basic earnings
This represents earnings for the year attributable to ordinary shareholders. As there was no preference dividend,
minority interest or extra ordinary items, the net profit for the year has been considered as fully attributable to the
ordinary shareholders.
Basic earnings per share

This has been calculated by dividing the basic earnings by the weighted average number of ordinary shares
outstanding during the year.

3.15 Current tax
Current tax expense has been made on the basis of the Finance Act, 2020 and the Income Tax Ordinance, 1984.
3.16 Deferred tax

Deferred tax is recognized using the balance sheet method. Deferred tax arises due to temporary difference deductible
or taxable for the events or transactions recognized in the statement of profit or loss and other comprehensive income.
A temporary difference is the difference between the carrying amounts of assets and liabilities and its tax base amount
in the statement of financial position. Deferred tax asset or liability is the amount of income tax recoverable or payable
in future period(s) recognized in the current period. The deferred tax asset / income or liability / expense do not create
a legal liability / recoverability to and from the income tax authority. Deferred tax also arises due to revaluation of
property, plant and equipment. The resulting impact of deferred tax assets / liabilities on revaluation surplus is included
in the statement of changes in equity.
3.17 Defined contribution plan

The Company operates a recognized provident fund scheme where employees contribute 10% of their basic salary
with equal contribution by the Company. The provident fund is being considered as defined contribution plan being
managed by a Board of Trustees.

Quoted shares are classified as available for sale financial assets and recognized initially at cost. After initial
recognition, investments are measured at fair value and any changes in the fair value are recognized in the statement
of profit or loss and other comprehensive income under the component of other comprehensive income for the period
in which it arises.
4. GENERAL
4.1 Going concern

The company has adequate resources to continue in operation for the foreseeable future. For this reason the directors
continue to adopt going concern basis in preparing these financial statements.
4.2 Figures have been rounded off to the nearest Taka.
4.3 Comparative figures have been re-arranged whenever considered necessary to ensure better comparability with the
current period without causing any impact on the profit and value of assets and liability as reported in the financial
statements.
•113
Amount in Taka
5. PROPERTY, PLANT AND EQUIPMENTS
COST DEPRECIATION
Balance Addition Adjustment/ Balance Balance Charged Adjustment/ Balance Written

Particulars as at during Disposal as at Rate (%) as at during Disposal as at Down Value
01.07.19 the year during 30.06.20 01.07.19 the year during 30.06.20 as at
the year the year 30.06.20
Freehold land and land development 121,190,645 444,000 - 121,634,645 - - - - - 121,634,645

Building on freehold land 325,896,504 1,949,830 - 327,846,334 5.0% 134,547,538 16,359,605 - 150,907,143 176,939,191
Semi pucca building on freehold land 1,741,817 - 1,741,817 12.5% 1,741,817 - - 1,741,817 -
Plant and machinery 261,179,001 1,607,977 - 262,786,978 5.0% 139,330,622 13,139,349 - 152,469,971 110,317,007
Office equipments 13,099,996 21,200 - 13,121,196 12.5% 10,054,029 1,275,913 - 11,329,942 1,791,254
Automobiles and trucks 45,588,898 - 3,204,732 42,384,166 25.0% 32,356,267 6,678,887 2,083,076 36,952,078 5,432,088
Furniture and fixture 3,105,035 - - 3,105,035 10.0% 2,570,378 156,336 - 2,726,714 378,321
Balance as at 30 June 2020 771,801,896 4,023,007 3,204,732 772,620,171 320,600,651 37,610,090 2,083,076 356,127,665 416,492,506
Balance as at 30 June 2019 719,558,399 52,243,497 - 771,801,896 281,642,128 38,958,523 - 320,600,651 451,201,245
Amount in Taka
Allocation of depreciation
30 June 2020 30 June 2019
Farm overhead 28,297,886 29,291,220
Vitamin - E eggs expenses 667,944 667,944
Omega-03 Project 1,691,102 1,681,854
Administrative expenses 2,448,386 2,323,045
Distribution expenses - 750,296
Hatchery expenses 2,902,992 2,885,831
Feed mill 609,077 582,903
Marketing expenses 801,180 587,532
Laboratory expenses 191,523 187,898
37,610,090 38,958,523
Amount in Taka
6. CAPITAL WORK- IN-PROGRESS 30 June 2020 30 June 2019

Opening balance 26,279,858 22,337,556
109,840,534 77,125,405
Capitalized as property, plant and equipments (3,579,007) (50,845,547)
Closing balance 106,261,527 26,279,858
7. LONG TERM INVESTMENT

Investment in govt. savings certificates ( 5 Years) (Note-7.1) - 650,000
Investment in govt. bond ( 5 Years) (Note-7.2) 10,000,000 10,286,180
10,000,000 10,936,180
7.1 Investment in govt. savings certificates ( 5 Years)
Name of Certificate Certificate No
BSP 2014/0714 0085345 500,000 500,000

BSP 2014/0714 0857627 100,000 100,000
BSP 2014/0714 1434173 50,000 50,000
650,000 650,000
Encashed during this year (650,000) -
- 650,000

7.2 Investment in govt. bond ( 5 Years) Amount in Taka
30 June 2020 30 June 2019
BD0920011055 10,286,180 10,572,360

Amortization on Gov't Bond (286,180) (286,180)
10,000,000 10,286,180
8. INVESTMENT IN SHARES AND OTHERS

Investment in share (Note-8.1) 35,816,797 51,332,570
Investment in FDR 50,000,000 50,000,000
85,816,797 101,332,570
8.1 Investment in share

The following amounts are invested in listed companies for maintaining equivalent amount of Tax holiday reserve
@ 10% being exempted on net profit of Renata Agro Industries Limited.
Number Cost price 30 June 2020 30 June 2019

Name of company of shares of share Book value Fair Value of Share Fair Value of Share
United Finance Ltd. 38,452 578,923 12.5 480,650 730,588

Bata Shoe Ltd. 2,000 264,501 693.2 1,386,400 2,081,800
Square Pharma Ltd. 193,373 13,896,710 172.5 33,356,843 47,620,511
UCBL 20,831 2,600,218 11.7 243,723 356,210
ICB 5,105 1,066,263 68.4 349,182 543,461
259,761 18,406,615 35,816,797 51,332,570
30 June 2020 30 June 2019

9. INVENTORIES
Parent stock- deshi hen 91,830 -

Parent stock- broiler 17,583,951 76,822,756
Parent stock- vitamin E 8,130,110 4,936,916
Parent stock- duck 264,060 -
Parent stock- layer 9,067,494 5,014,652
Material stock- feed 245,435 965,170
Material stock- medicine 3,478,028 5,572,507
Material stock- commercial broiler feed 562,485 -
Feed mill Ingredient 17,598,728 7,935,684
Generator fuel and LP gas 822,078 519,469
Layer eggs-03 1,502,300 715,660
Omega-03 feed 371,371 89,132
Vitamin-E feed 207,521 180,517
Vitamin-E eggs 664,392 693,408
60,589,783 103,445,871
10. TRADE AND OTHER RECEIVABLES

Trade receivables (Note- 10.1) 10,778,320 18,244,219
Less: allowance for doubtful debts (3,300,000) -
7,478,320 18,244,219
Other receivables 25,552,157 22,934,327
33,030,477 41,178,546
10.1 Aging of trade receivables
Receivables due below six months 7,544,824 12,770,953
10,778,320 18,244,219
11 ADVANCES, DEPOSITS AND PREPAYMENTS

Advances (Note-11.1) 3,679,420 372,568
Prepayments (Note-11.2) 2,367,017 1,527,089
Advance income tax (Note-11.3) 18,645,959 16,701,232
24,692,396 18,600,889
•115
Amount in Taka
11.1 Advances 30 June 2020 30 June 2019

Loan to employee 1,868,409 -
Advance to employee against purchase 1,811,011 -
Advance for commercial feed factory rent - 102,594
Advance for calendar - 266,774
Advance for agent seminar - 3,200
3,679,420 372,568
11.2 Prepayments
2,367,017 1,527,089
11.3 Advance income tax
Opening balance 16,701,232 13,939,167
18,645,959 16,701,232
Adjustment during the year - -
Closing balance 18,645,959 16,701,232
12. CASH AND CASH EQUIVALENTS

Cash in hand
At farm office 3,363,702 1,960,958
At head office 150,469 324,532
3,514,171 2,285,490
Balance with Banks:
Pubali Bank Ltd. (A/c- 2844901021428) 109,931 4,217,769
Janata Bank Ltd. (A/c- 0197001032897) 73,954 798,322
Islami Bank Bangladesh Ltd. (A/c- 20502740100089118) 2,535,032 10,162,555
Dutch Bangla Bank Ltd. (A/c- 1641100011197) 316,886 2,772,886
Eastern Bank Limited. (A/c- 1012050000405) 16,560,063 14,770,131
Agrani Bank Ltd. (A/c- 0200008969017) 148,369 1,789,410
19,744,234 34,511,073
23,258,405 36,796,563
13. SHARE CAPITAL

Authorized Capital
1,500,000 ordinary shares of Tk. 100 each 150,000,000 150,000,000
Issued and Paid-up Capital
420,000 ordinary shares of Tk. 100 each 42,000,000 42,000,000
At 30 June 2020, shareholdings position of the company are as follows
Shareholders Share Holdings (%)
Renata Limited 99.99 41,994,900 41,994,900

Mr. Syed S. Kaiser Kabir 0.01 5,100 5,100
100 42,000,000 42,000,000

Amount in Taka
30 June 2020 30 June 2019

14. DEFERRED TAX LIABILITY
Opening balance 8,080,740 8,266,360
Other comprehensive income -10% tax on unrealized gain/ (loss) on share (1,551,577) (210,052)
Charge to the profit or loss account (236,369) 24,432
Closing balance 6,292,793 8,080,740
Carrying Taxable/(deductible Deferred tax

amount as at temporary liabilities
30 June 2020 Tax base difference) /(assets)
For the Year ended 30 June 2020 BDT BDT BDT BDT
Property, plant and equipment excluding cost of land 416,492,506 360,472,297 56,020,209 5,602,021
Provision for gratuity (7,202,464) - (7,202,464) (720,246)
Provision for doubtful debt (3,300,000) - (3,300,000) (330,000)
Deferred tax liability/ (assets) as on 30 June 2020 6,292,792
Increase in deferred tax liabilities/ (assets) during the yeart (1,787,947)
Allocation of deferred tax liabilities/ (assets) during the year

Charged to available for sale reserve (OCI) (1,551,577)
Charged to profit or loss (236,369)
(1,787,947)
For the Year ended 30 June 2019

Property, plant and equipment excluding cost of land 451,201,245 394,117,982 57,083,263 5,708,326
Increase in deferred tax liabilities/ (assets) during the year (185,620)
Allocation of deferred tax liabilities/ (assets) during the year

Charged to available for sale reserve (OCI) (210,052)
Charged to profit or loss 24,432
(185,620)
•117
Amount in Taka
15. TRADE AND OTHER PAYABLES 30 June 2020 30 June 2019

ACE Pharmaceuticals 51,000 134,900
ACI Limited 253,080 -
ACI Godrej Agrovet Private Ltd. - 254,995
Al-Modena Enterprise - 276,925
Adnan Agro Ltd 2,491,000 -
Adyan Agro Ltd. 214,000 -
Advance Animal Science Co. Ltd. - 148,750
A.B. Electric Stores 2,077 15,115
Bengal Overseas Ltd. 59,660 3,129,661
Banga Building Materials Ltd. 174,660 -
Bangladesh Lamps limited 46,700 6,354
Bio Labs 222,757 198,500
Bogdad pellet Feed 914,550 -
Delwar Paint and Hardware 148,345 -
EMS Enterprise - 167,700
Glory Computers 5,200 -
Grameen Distribution Ltd. - 20,700
Hazi Abdul Karim 591,983 1,317,594
Islam Enterprise 33,000 -
J.M.S Instrument & Chemical Co. 32,250 3,300
K.M. Hasan and Co. 80,000 80,000
Mouha Mega Power and Traders 58,100 -
Mozaddia Auto Rice Mill 26,500 -
M.S Trading 1,423,650 -
Md. Kowser Dal Mill 100,325
Nasco Agro Products 129,500 -
Poultry Consultant & Development Service - 3,300
PCF Feed Industries 376,600 -
Partex Cables Limited - 183,052
Renata Limited (Medicine) 11,224,400 10,875,700
Renata Limited (Others) 3,087,841 -
R.R. Enterprise 135,660 219,850
R.K Enterprise 162,000 -
Repon Engineering 9,500 -
Sonali Flowers Ltd. 998,800 678,869
Shahariar Enterprise 50,525 101,905
Shamol Bangla Agro Pharma - 155,000
Satata Oil Mill 410,226 -
Taj Ready Feeds 528,975 -
The Print Media 29,000 15,700
Tea House - 419,580
Univet Limited 195,000 39,000
X-Link Packaging 575,299 294,500
Zuellig Pharma 854,310 477,169
25,696,469 19,218,119
Aging of trade and other payables
Receivables due below six months 21,640,519 14,745,599
25,696,469 19,218,119
16. COST ACCRUAL
Leave encashment 16,793,273 18,866,844
16,793,273 18,866,844

Amount in Taka
30 June 2020 30 June 2019

17. PROVISION AND OTHER LIABILITIES
Provision (Note:17.1) 2,766,034 9,640,607
Other liabilities (Note:17.2) ) 245,433,903 153,982,845
248,199,937 163,623,452
17.1 Provision
Chicks carrying cost 1,434,465 8,309,038
Commercial feed carrying cost 1,331,569 1,331,569
2,766,034 9,640,607
Advance from renata 170,000,000 75,364,295
Payables to employees (Note-17.2.1) 10,774,229 12,340,536
Agent security deposit (Note-17.2.2) 11,111,237 10,830,870
Employee tax payable 1,500 1,500
Employee providend fund (Note-17.2.3) 45,616,349 46,235,203
Annual bonus payable (Note- 17.2.4) 728,124 8,617
Provision for Gratuity (17.2.5) 7,202,464 9,201,824
245,433,903 153,982,845
17.2.1 Payables to employees
Beneficiary's profit participation fund (Note-17.2.1.1) 5,454,189 7,020,496
Beneficiary's welfare fund (Note-17.2.1.2) 5,320,040 5,320,040
10,774,229 12,340,536
17.2.1.1 Beneficiary's Profit Participation Fund (BPPF)
Addition during the year - -
7,020,496 7,216,746
Transfer to BWF - -
Payment during the year (1,566,307) (196,250)
17.2.1.2 Beneficiary's Welfare Fund (BWF)

Addition during the year - -
5,320,040 5,365,040
Payment during the year - (45,000)
17.2.2 Agent security deposit

Opening balance 10,830,870 10,245,870
Deposit during the year 280,367 1,190,000
11,111,237 11,435,870
Refund to the agent - (605,000)
Closing balance 11,111,237 10,830,870
17.2.3 Employee providend fund

Opening balance 46,235,203 36,322,536
56,993,151 46,879,516
Adjustment/Payment during the year (11,376,802) (644,313)
45,616,349 46,235,203
•119
Amount in Taka
30 June 2020 30 June 2019

17.2.4 Annual bonus payable
Opening balance 8,617 73,824
9,329,798 9,235,133
Payment during the year (8,601,674) (9,226,516)
728,124 8,617
17.2.5 Provision for gratuity
16,074,824 11,956,423
Payment during the year (8,872,360) (2,754,599)
18. PROVISION FOR INCOME TAX

Addition during the year 947,926 762,670
4,410,295 3,462,369
Payment during the year - -
closing balance 4,410,295 3,462,369
19. REVENUE
Broiler 95,246,199 308,564,394
Eggs 5,320,506 4,471,234
Cull birds/ reject bird 41,344,572 52,787,569
Commercial broiler 59,315,078 257,400
Omega-03 eggs 58,030,641 45,188,466
Cattle 906,220 165,440
Vitamin-E eggs 29,742,285 21,503,214
Reject bird omega-3 eggs 5,131,440 6,273,549
Reject bird vitamin-E eggs 3,420,960 3,898,409
Others 3,219,173 3,781,370
301,677,074 446,891,045
20. COST OF SALES

Cattle feed 1,490,660 677,749
Feeds and litter 44,333,670 96,902,324
Cost of dead birds 6,299,402 7,330,259
Cost on sale of birds 30,943,034 32,561,731
Farm overhead (Note-20.1) 92,831,656 126,642,503
Omega - 03 project (Note-20.2) 45,164,639 34,598,758
Deshi Hen- conveyance expenses 190 -
Vitamin-E eggs expenses 27,034,284 18,639,176
Commercial broiler expenses 48,583,365 1,051,995
Hatchery expenses 18,586,534 26,440,605
Laboratory expenses 1,929,258 2,840,034
Feeds and feed mill expenses 9,145,037 12,782,151
Medicine and vaccine 7,984,265 14,285,350
Amortization value of birds 29,066,536 49,022,315
Fish project 30,942 80,000
363,423,472 423,854,950

Amount in Taka
30 June 2020 30 June 2019

20.1 Farm overhead
Salaries and wages 38,675,196 50,972,212
Telephone bill expenses 128,835 173,516
Entertainment- Officers/ Staff 25,108 990
Guest entertainment 17,621 34,770
Fuel charges 1,136,408 1,478,607
Medical expenses 3,657 93,069
Mobile set purchase 18,335 33,000
Donation and subscription 132,390 467,805
Gardening 73,315 172,021
Uniform expenses 65,637 530,514
Power (generator fuel & L.P. gas) 3,358,648 5,731,396
Electricity consumption 6,280,131 10,441,448
Staff lunch and snacks 11,437 50,297
Canteen expenses 1,610,920 5,023,893
Conveyance 129,280 200,375
Carrying expenses 46,820 209,994
Poultry equipment's 304,657 427,400
Laboratory testing expense 46,245 17,950
Stationery expenses 185,609 783,819
Land revenue tax (farm) 100,048 259,465
Advertisement expenses - 1,911
Union parishad tax 352,625 590,000
Travelling expenses 73,736 6,100
Rental for farm 1,095,533 45,721
Sports and games 2,650 8,470
License fees 209,269 467,978
Consultant's fees - -
Carrying cost 5,445,000 7,314,660
Depreciation 28,297,886 29,291,220
Miscellaneous 708,494 308,586
92,831,656 126,642,503
20.2 Omega-03 Project
Salaries and overhead expenses 5,608,627 2,335,716
Fuel expenses 254,052 167,748
Feeds expenses 20,198,985 20,895,483
Medicine and vaccine 1,108,184 -
Poultry equipments 88,762 -
Laboratory testing & diagnosis 218 -
Litter expenses 40,405 -
Eggs box 1,234,000 1,054,075
Canteen expense 387,251 2,250
Telephone bill expense 9,263 4,400
Mobile set purchase 4,122 -
Uniform expenses 23,434 9,410
Repairs and maintenance 148,446 9,859
Carrying expenses 1,220 -
Conveyance expenses 3,891 -
Donation and subscription 26,010 -
Layer egg purchases expense 4,493,075 -
•121
Amount in Taka
30 June 2020 30 June 2019

Layer electricity, fuel and LP gas 1,549,782 1,299,501
Loss of dead birds 324,284 156,082
Loss on sale of birds 2,542,034 3,703,773
Amortization value of birds 4,791,486 3,117,470
Sports and games 575 -
Rental for farm 3,315 -
License renewal fees 4,250 -
Land revenue tax (farm) 8,249 -
Lunch and snacks 3,851 280
Depreciation 1,691,102 1,681,854
Medical expenses - 590
Miscellaneous 4,740 -
45,164,639 34,598,758
21. ADMINISTRATIVE EXPENSES

Salaries and allowance 11,291,532 13,087,565
Repair and maintenance 306,681 356,768
Mobile set purchase 15,000 36,375
Audit fees 119,500 108,125
Telephone bill 110,438 133,486
Uniform expenses - 11,760
Conveyance 154,022 175,265
Games and sports 700 2,270
Donation and subscription 2,000 54,000
Entertainment expenses 770 -
Canteen expenses 113,998 185,538
License renewal fees 54,000 34,992
Cleaning expense 3,730 4,650
Insurance premium 30,540 27,630
Consultancy expenses - 22,125
Internet / e-mail service - 16,712
Legal fees 34,455 81,762
Vehicle insurance, fitness and road tax 299,288 343,590
Travelling expenses 300 400
Postage & courier expenses 120 -
Amortization on Gov't Bond 286,180 286,180
Bad Debts Provision 3,300,000 -
Depreciation 2,448,386 2,323,045
19,724,943 18,382,207
22. MARKETING EXPENSES

Salaries and allowance 6,594,568 8,394,932
Entertainment 970 24,890
Telephone bill expenses 144,424 202,492
Carriage and conveyance 12,950 32,710
Traveling expenses 639,871 1,524,700

Amount in Taka
30 June 2020 30 June 2019

Repair and maintenance 50,185 114,775
Insurance, road tax and fitness 74,367 99,855
Business promotional expense 166,304 458,780
Medical expense 28,965 -
House rent for chicks 102,594 -
Depreciation 801,180 587,532
Miscellaneous expenses 204,535 74,325
8,917,031 11,688,689
23. DISTRIBUTION EXPENSES
Salary and allowance 3,397,005 4,532,426
Carriage and conveyance 30,750 66,345
Chicks box 2,933,533 6,103,200
Telephone bill 39,229 55,310
Mobile set purchase - 7,500
Repair and maintenance 742,752 1,742,694
Fuel and lubricant 1,703,396 3,347,172
House rent for chicks 69,200 74,200
Stationery expenses 1,287,230 168,791
Traveling expenses - 4,000
Chicks carrying expenses 574,965 2,126,342
Uniform for staff 3,200 10,340
Courier expenses 80 670
Vehicle insurance, fitness and road tax 68,670 330,330
Subscription 67,529 35,000
Depreciation - 750,296
11,158,176 20,007,600
24. FINANCE INCOME
Interest- FDR 432,250 2,928,932
Other income (Note-24.1) 1,938,545 1,443,002
2,370,795 4,371,934
24.1 OTHER INCOME
Gain on Sale of used vehicle 278,344 -
Coupon interest 860,000 860,000
Income from dividend 800,201 583,002
1,938,545 1,443,002
25. FINANCE EXPENSES
Bank charges 119,400 111,662
Interest on overdraft (EBL) - 60,006
Interest on employees provident fund 3,800,169 2,958,261
3,919,569 3,129,929
26. BASIC EARNINGS PER SHARE (EPS)
Profit/(loss) attributable to ordinary shareholders (103,806,879) (26,587,498)
Weighted average number of ordinary shareholders 420,000 420,000
(247.16) (63.30)
•123
30 June 2020 30 June 2019
27. PAYMENTS TO DIRECTORS AND OFFICERS
The aggregate amount paid during the year to officers of the company are disclosed below:
Basic 34,467,819 18,029,095
House rent 17,226,849 6,759,205
Bonus 8,182,426 9,214,268
Contribution to provident Fund 3,319,327 1,549,179
Gratuity 7,854,500 6,830,000
Conveyance allowance and transport 664,500 750,000
72,060,421 44,127,747
28 Disclosure as per requirement of Schedule Xl, Part ll of the Companies Act, 1994
28.1 Employee Position of the Renata Agro Industries Limited as per requirement of schedule Xl, Part ll, Para-3
The Company engaged 310 employees of which 237 is permanent employees and 73 is casual and temporary
29 Payments / receipts in foreign currency
29.1 During the year, the following payments were made in foreign currency for imports, calculated on CIF basis of:
Foreign currency Foreign currency Foreign currency Local currency
GBP EURO US$ Taka
Machinery and spares 468,328 - - 52,425,574

Machinery and spares - 2,305 - 221,853
Machinery and spares - - 130,000 11,141,000
Day Old Chicks - 57,633 - 5,547,084
Machinery and spares - - 38,000 322,810
30. Related party disclosures

During the year the Company carried out a number of transactions with related parties in the normal course of business
on an arm's length basis. Name of those related parties, nature of those transactions and their total value have been
shown in the table below in accordance with IAS 24 "Related Party Disclosures".
Name of related Nature of Value of Balance at year

Relationship
parties transactions Transaction (BDT) end (BDT)
1. Renata Limited Parent Purchases of goods 18,083,430 11,224,400
Advance 97,723,546 173,087,841
2. Purnava Limited Subsidiary of Parent Sale of goods 90,457,840 19,648,137
31. EVENTS AFTER THE REPORTING PERIOD

31.1 The Board of directors in its meeting held on 26 October 2020 approved these audited financial statements of the
company for the year ended 30 June 2020 and authorized the same for issue.
31.2 No material events occurred after the date of statement of audited financial position, non-disclosure of which could affect
the ability of the users of these audited financial statements to make appropriate evaluation.
Place: Dhaka, Bangladesh

Dated: 26 October 2020

Purnava Limited
Independent Auditor's Report and Financial Statements for the year ended June 30, 2020
Board of Directors
• Mr. Kaiser Kabir, Chairman
• Mr. Monowarul Islam, Director
• Mr. Nehal Ahmed, Independent Director
•125
The Purnava team demonstrated admirable resilience during the Pandemic period. As doctors
withdrew from their private practice during the early months of the Pandemic, the growth of our
branded lifestyle products reduced considerably. To compensate for lost business, the team quickly
launched hand sanitizers and face-masks. Given the brand-equity that Purnava holds in the market,
these new products notched-up significant sales.
Strong digital-marketing increased online sales several-fold. Our distribution team put in long hours of
work to ensure timely delivery to shops and homes.
As doctor chambers re-open, we are hopeful that sales growth for our key brands shall return to a
high-growth trajectory.
The Company is now very close to achieving break-even sales. We are confident that Purnava shall
start earning profit from Q1 of the next fiscal year.
Kaiser Kabir
Chairman
Purnava Limited
26 October, 2020

INDEPENDENT AUDITOR'S REPORT
TO THE SHAREHOLDERS OF
PURNAVA LIMITED
REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS
Opinion Our opinion on the financial statements does not
We have audited the financial statements of cover the other information and we do not express
PURNAVA LIMITED, which comprise the statement any form of assurance conclusion thereon.
of financial position as at 30 June 2020 and the
statement of profit or loss and other comprehensive In connection with our audit of the financial
income, statement of changes in equity and statements, our responsibility is to read the other
statement of cash flows for the year then ended and information and, in doing so, consider whether the
notes to the financial statements, including a other information is materially in consistent with the
summary of significant accounting policies. financial statements of our knowledge obtained in the
audit or otherwise appears to be materially
In our opinion, the accompanying financial misstated.
statements give a true and fair view, in all material
respects, of the financial position of the company as Responsibilities of Management and Those
at 30 June 2020 and of its financial performance and Charged with Governance for the Financial
its cash flows for the year then ended in accordance Statements
with International Financial Reporting Standards Management of PURNAVA LIMITED is responsible
(IFRSs). for the preparation and fair presentation of the
Financial Statements in accordance with
Basis for Opinion International Financial Reporting Standards (IFRSs),
We conducted our audit in accordance with the Companies Act 1994 and other application Laws
International Standards on Auditing (ISAs). Our and Regulation and for such internal control as
responsibilities under those standards are further management determines is necessary to enable the
described in the Auditor's Responsibilities for the preparation of financial statements that are free from
Audit of the Financial Statements section of our material misstatement, whether due to fraud or error.
report. We are independent of the Company in
accordance with the International Ethics Standards In preparation the financial statements, management
Board of Accountants' Code of Ethics for is responsible for assessing the Company's ability to
Professional Accountants (IESBA Code) together continue as a going concern, disclosing, as
with the ethical requirements that are relevant to our applicable, matters related to going concern and
audit of the Financial Statements in Bangladesh, and using the going concern basis of accounting unless
we have fulfilled our other ethical responsibilities in management either intends to liquidate the company
accordance with these requirements and the IESBA or to cease operations, or has no realistic alternative
Code. We believe that the audit evidence we have but to do so.
obtained is sufficient and appropriate to provide a
basis for our opinion. Those charged with governance are responsible for
overseeing the Company's financial reporting
Other Information process.
"The management of PURNAVA LIMITED is
responsible for the other information. The other Auditor's Responsibilities for the audit of the
information comprises all of the information in the financial statements
Annual Report other than the financial statements Our objectives are to obtain reasonable assurance
and our auditor’s report thereon. The annual report is about whether the financial statements as a whole
expected to be made available to us after the date of are free from material misstatement, whether due to
this auditor’s report. fraud or error, and to issue an auditor's report that
•127
includes our opinion. Reasonable assurance is a However, future events or conditions may cause
high level of assurance, but is not a guarantee that an the company to cease to continue as a going
audit conducted in accordance with International concern.
Standards on Auditing (ISAs) will always detect a
material misstatement when it exists. Misstatements • Evaluate the overall presentation, structure and
can arise from fraud or error and are considered if, content of the financial statements, including the
individually or in the aggregate they could reasonably disclosures, and whether the financial statements
be expected to influence the economic decisions of represent the underlying transactions and events
users taken on the basis of these financial in a manner that achieves fair presentation and
statements.
• Obtain sufficient appropriate audit evidence
As part of an audit in accordance with ISAs, we regarding the financial information of the entities
exercise professional judgment and maintain or business activities within the company to
professional skepticism throughout the audit. We express an opinion on the financial statements.
also: We are responsible for the direction, supervision
and performance of the audit. We remain solely
• Identify and assess the risks of material responsible for our audit opinion.
misstatement of the financial statements, whether
due to fraud or error, designed and performed We also provide those charged with governance with
audit procedures responsive to those risks, and a statement that we have complied with relevant
obtain audit evidence that is sufficient and ethical requirements regarding independence, and to
appropriate to provide a basis for our opinion. The communicate with them all relationships and other
risk of not detecting a material misstatement matters that may reasonably be thought to bear on
resulting from fraud is higher than for one our independence, and where applicable, related
resulting from error, as fraud may involve safeguards.
collusion, forgery, intentional omissions,
misrepresentations, or the override of internal Report on Other Legal and Regulatory
control. Requirements
In accordance with the Companies Act 1994 and
• Obtain an understanding of internal control other applicable laws and regulations, we also report
relevant to the audit in order to design audit the following:
procedure that as appropriate in the
circumstances, but not for the purpose of (a) we have obtained all the information and
expressing an opinion on the effectiveness of the explanations which to the best of our knowledge
company's internal control. and belief were necessary for the purposes of
our audit and made due verification thereof;
• Evaluate the appropriateness of accounting
policies used and the reasonableness of (b) in our opinion, proper books of account as
accounting estimates and related disclosures required by law have been kept by the company
made by management. so far as it appeared from our examination of
those books; and
• Conclude on the appropriateness of
management's use of the going concern basis of (c) the statement of financial position and statement
accounting and, based on the audit evidence of profit or loss and other comprehensive income
obtained, whether a material uncertainty exists dealt with by the report are in agreement with the
related to events or conditions that may cast books of account.
significant doubt on the company's ability to
continue as a going concern. If we conclude that
a material uncertainty exists, we are required to
draw attention in our auditor's report to the related
K. M. HASAN & CO.
disclosures in the financial statements or, if such Chartered Accountants
disclosures are inadequate, to modify our opinion.
Our conclusions are based on the audit evidence Place: Dhaka
obtained up to the date of our auditor's report. Dated: 26 October, 2020

Purnava Limited
AS AT JUNE 30, 2020
June 30, 2020 June 30, 2019

ASSETS Notes Taka Taka
Non-current assets
Property, plant and equipment 4 8,607,687 3,473,118
Deferred tax assets 5 2,362,871 1,556,171
10,970,558 5,029,289
Current assets
Inventories 6 52,696,135 28,721,270
Trade receivables 7 94,423,463 38,182,384
Other receivables 8 3,571,912 1,353,309
Advance, deposits and prepayments 9 5,367,552 15,835,548
Cash and cash equivalents 10 21,008,507 7,712,715
177,067,569 91,805,226
Total assets 188,038,127 96,834,515
Shareholders' equity
Share capital 11 2,500,000 2,500,000
Retained earnings/(losses) (175,222,902) (161,587,086)
(172,722,902) (159,087,086)
Current liabilities
Trade payables 12 20,000,483 12,311,432
Other payables 13 337,551,750 240,051,750
Provision for taxation 14 3,208,796 3,558,419
360,761,029 255,921,601
Total equity and liabilities 188,038,127 96,834,515
The annexed notes form an integral part of these financial statements.
Chairman Director Chief Financial Officer
Signed in terms of our separate report of even date annexed.
Place: Dhaka K. M. HASAN & CO.

Dated: 26 October, 2020 Chartered Accountants
•129
Purnava Limited
STATEMENT OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED JUNE 30, 2020
2019-2020 2018-2019
Notes Taka Taka
Turnover 468,132,671 344,350,812

Cost of sales 15 (325,859,313) (206,515,940)
Gross profit 142,273,358 137,834,872
Administrative, selling and distribution expenses 16 (152,664,766) (168,438,461)

Operating Loss (10,391,408) (30,603,589)
Finance cost (594,876) (489,197)
Profit / (Loss) before tax (10,986,284) (31,092,786)
Income tax expenses:
Current tax (3,456,232) (2,791,905)
Deferred tax (expenses) / income 5 806,700 (8,829)
(2,649,532) (2,800,734)
Net Profit / (Loss) after tax (13,635,816) (33,893,520)
Other comprehensive income - -
Total comprehensive income (13,635,816) (33,893,520)
The annexed notes form an integral part of these financial statements.


Purnava Limited
Amount in Taka
Share Retained
PARTICULARS Total
capital Earnings/(Losses)
Balance as at July 01, 2019 2,500,000 (161,587,086) (159,087,086)
Net profit /(loss) for the year - (13,635,816) (13,635,816)
Balance as at June 30, 2020 2,500,000 (175,222,902) (172,722,902)
For the year ended June 30, 2019

Share Retained
PARTICULARS Total
capital Earnings/(Losses)
Balance as at July 01, 2018 2,500,000 (127,693,566) (125,193,566)
Net profit /(loss) for the year - (33,893,520) (33,893,520)
Balance as at June 30, 2019 2,500,000 (161,587,086) (159,087,086)

•131
Purnava Limited
2019-2020 2018-2019
Taka Taka
A. Cash flows from operating activities:
Collection from customers and others 429,191,247 349,830,375

Payment to suppliers and employees (385,082,264) (348,030,556)
Payment of VAT (19,817,108) (7,595,270)
Cash inflows/ (outflows) from operation 24,291,875 (5,795,451)
Finance cost (594,876) (489,197)
Payment of tax (3,291,483) (2,075,976)
Net cash provided from / (used in) operating activities 20,405,516 (8,360,624)
B. Cash flows from investing activities:
Purchase of property, plant and equipment (7,109,724) (2,588,052)

Net cash used in investing activities (7,109,724) (2,588,052)
C. Cash flows from financing activities:
Short term finance - 2,505,669

Bank overdraft - (832,173)
Net cash provided from financing activities - 1,673,496
D. Net increase/(decrease) in cash and cash equivalents for the year (A+B+C) 13,295,792 (9,275,180)
E. Opening cash and cash equivalents 7,712,715 16,987,895
F. Closing cash and cash equivalents (D+E) 21,008,507 7,712,715
Place: Dhaka
Dated: 26 October, 2020

Purnava Limited
1. REPORTING ENTITY
1.1 Company profile

Purnava Limited is a private company limited by share incorporated in Bangladesh on 17 August 2004 under the
Companies Act 1994.
1.2 Registered office and principal place of business

The registered office of the company is situated at Plot No.01, Milk Vita Road, Section-07, Mirpur, Dhaka-1216.

The principal activities of the company are to carry on the business of marketing and distribution of all kinds of
consumer goods, consumer durables, food items, sugar confectioneries, edible oils, beverages etc. raw materials,
semi-finished items, producers, goods and various other products of local or foreign origin and to engage in the
business as traders, importers, exporters, commission agents of all kinds of goods and services including
pharmaceutical drugs and medicines.
2. SIGNIFICANT ACCOUNTING POLICIES
2.1 Reporting period

The financial year of the company covers one year from 01 July 2019 to 30 June 2020 consistently.
2.2 Statement of compliance and basis of preparation

The financial statements have been prepared in accordance with International Accounting Standards (IAS's) and
International Financial Reporting Standards (IFRS's) and as per the requirements of the Companies Act 1994.
2.3 Going concern

The company has adequate resources to continue in operation for the foreseeable future. For this reason the
management continue to adopt going concern basis in preparing the Financial Statements. The current credit facilities
and resources of the company provide sufficient funds to meet the present requirements of its existing businesses and
operations.
2.4 Regulatory compliance

The Company is required to comply with amongst others, the following laws and regulations:
The Companies Act 1994
The Income Tax Ordinance 1984
The Income Tax Rules 1984
The Value Added Tax and Supplementary Duty Act, 2012
The Value Added Tax (VAT) Rules 2016
•133
2.5 Component of the financial statements
According to the International Accounting Standards "IAS"-1, "Presentation of Financial Statements" a complete set of
Financial Statements include the following components:
a) Statement of Financial Position as at June 30, 2020.
b) Statement of Profit or Loss and Other Comprehensive Income for the year ended June 30, 2020.
c) Statement of Changes in Equity for the year ended June 30, 2020.
d) Statement of Cash Flows for the year ended June 30, 2020.
e) Notes to the Financial Statements for the year ended June 30, 2020.
2.6 Property, plant and equipment and depreciation

Property, plant and equipment is stated at cost less accumulated depreciation. Depreciation is charged on a
straight-line method over the estimated useful life of each property, plant and equipment. Full month's depreciation is
charged on a straight-line basis from the month the asset is put into use and no depreciation is charged for the month
of disposal. Details are as follows:
Depreciation rate (%)

Asset type
June 30, 2020 June 30, 2019
Vehicle 25% 25%
Furniture & fixture 10% 10%
Office equipment 10%-12.5% 10%-12.5%
2.7 Trade receivable

Trade receivable at the Statement of Financial Position date are stated at amounts which are considered realizable.
2.8. Deferred tax

Deferred tax liabilities are the amount of income taxes payable in future periods in respect of taxable temporary
differences. Deferred tax assets are the amount of income taxes recoverable in future periods in respect of deductible
temporary differences. Deferred tax assets and liabilities are recognized for the future tax consequences of timing
differences airing between the carrying values of assets, liabilities, income and expenditure and their respective tax
bases. Deferred tax assets and liabilities are measured using tax rates and tax laws prevailing at the balance sheet
date and recognized in the Statement of Profit or Loss and Other Comprehensive Income as per IAS-12 "Income
Taxes".
2.9 Inventories
Inventories are valued at lower of cost and estimated net realizable value. The cost of inventories is valued at weighted
average cost method and includes expenditure for acquiring the inventories and bringing them to their existing location
and condition.
2.10 Cash and cash equivalents

Cash and cash equivalents comprised cash in hand and cash at bank which were held and available for use of the
company without any restriction.

Statement of cash flows has been prepared in accordance with the of "IAS"-7, "Statement of Cash Flows" under the
direct method.

2.12 Revenue
Revenue is recognized upon invoicing the customers for goods sold and delivered net of returns and allowances and
trade discounts.
Revenue from sale of goods is recognized when the significant risks and rewards of ownership have been transferred
to the buyer, the company has no managerial involvement of ownership of the goods, the amount of revenue and the
cost of the transaction can be measured reliably and it is probable that the economic benefit associated with the
transactions will flow to the company.
2.13 Current tax

The current income tax charge is calculated based on tax laws enacted or substantively enacted at the balance sheet
date.
2.14 Transactions with related parties

The company has carried on transactions with related parties in the normal course of business.
3. GENERAL
1) All the figures in the financial statements represent Bangladesh Taka currency (BDT) rounded off to the nearest
integer.
2) The comparative information has been disclosed in respect of June 30, 2020 for all numerical information in the
financial statements and also the narrative and descriptive information as found relevant for understanding of the
current year's financial statements.
4. PROPERTY, PLANT AND EQUIPMENT

Amount in Taka
COST DEPRECIATION
Written down
As at Additions Disposal/ As at Rate As at Charged Disposal/ As at value at
Particulars July 01, during Adjustment June 30, % July 01, during Adjustment June 30, June 30,
2019 the during 2020 2019 the year during 2020 2020
year the year the year
Vehicles 8,308,954 6,677,196 - 14,986,150 25% 5,558,146 1,804,610 - 7,362,756 7,623,394
Furniture and fixtures 35,528 164,820 - 200,348 10% 33,931 8,312 - 42,243 158,105
Office equipments 1,336,323 267,708 - 1,604,031 10%-12.5% 615,610 162,233 - 777,843 826,188
Balance as at
30.06.2020 9,680,805 7,109,724 - 16,790,529 6,207,687 1,975,155 - 8,182,842 8,607,687
Balance as at 6,207,687 3,473,118

7,092,753 2,588,052 - 9,680,805 5,243,743 963,944 -
30.06.2019
•135
June 30, 2020 June 30, 2019
5. DEFERRED TAX ASSETS Taka Taka

Charge to the profit or loss account 806,700 (8,829)
Carrying Taxable/
amount as at Tax base (deductible temporary
June 30, 2020 difference)
BDT BDT BDT
For the Year ended June 30, 2020

Property, plant and equipment 8,607,687 9,422,766 (815,079)
Provision for doubtful debts (6,455,294) - (6,455,294)
Temporary difference (7,270,373)
Applicable tax rate 32.50%
Deferred tax liability/ (assets) as on June 30, 2020 (2,362,871)
For the Year ended June 30, 2019

Property, plant and equipment 3,473,118 4,493,811 (1,020,693)
Provision for doubtful debts (3,425,510) - (3,425,510)
Temporary difference (4,446,203)
Applicable tax rate 35.00%
Deferred tax liability/ (assets) as on June 30, 2019 (1,556,171)
6. INVENTORIES
Finished goods 45,907,542 19,786,407

52,696,135 28,721,270
7. TRADE RECEIVABLES
Trade receivables- unsecured 100,878,757 41,607,894

Less: Allowance for doubtful receivables (6,455,294) (3,425,510)
94,423,463 38,182,384
Trade receivables disclosure as per Schedule-XI, Part-1, of The Companies Act, 1994
Receivables due under six months 76,340,454 24,010,407

100,878,757 41,607,894
8. OTHER RECEIVABLES
Value added tax recoverable 3,571,912 1,353,309

June 30, 2020 June 30, 2019
9. ADVANCE, DEPOSITS AND PREPAYMENTS Taka Taka
Advances
Advance income tax (Note: 9.1) 2,170,567 2,684,939
Advances to employee (Note: 9.2) - 50,000
Advance to suppliers 823,757 4,798,457
Advance for inventory 2,373,228 8,301,940
Advance VAT - 212
5,367,552 15,835,548
9.1 Advance income tax

Add: Addition during the year 3,291,483 2,075,976
5,976,422 3,410,739
Less: Adjustment during the year 3,805,855 725,800
9.2 Advance to employee
Opening balance 50,000 50,000

Add: Addition during the year - -
50,000 50,000
Less: Adjustment during the year 50,000 -
Closing balance - 50,000
10. CASH AND CASH EQUIVALENTS
Cash in hand 50,000 50,000

Cash at bank:
Bank Asia Ltd. 10,751,084 550,463
Sonali Bank Ltd. 71,710 72,400
Standard Chartered Bank Ltd. 7,169,368 6,525,230
Brac Bank Ltd. 2,966,345 514,622
21,008,507 7,712,715
11. SHARE CAPITAL
Authorized capital:
2,000,000 Ordinary shares of Tk. 100 each 200,000,000 200,000,000
Issued, subscribed, called up & paid up capital

25,000 Ordinary shares of Tk. 100 each 2,500,000 2,500,000
Shareholding position of the company was as follows
No. of Face
Name of the shareholders shares value
Renata Limited 24,999 100 2,499,900 2,499,900

Mr. Syed S. Kaiser Kabir 1 100 100 100
25,000 2,500,000 2,500,000
•137
June 30, 2020 June 30, 2019
Taka Taka
12. TRADE PAYABLES
Payable to suppliers 352,346 236,165

Payable to Renata Agro Industries Limited 19,648,137 12,075,267
20,000,483 12,311,432
13. OTHER PAYABLES
Inter-company payables:
Renata Limited 337,500,000 240,000,000
Audit fee payable 51,750 51,750
337,551,750 240,051,750
14. PROVISION FOR TAXATION

Add: Provision made during the year 3,456,232 2,791,905
7,014,651 4,284,219
Less: Adjustment made during the year 3,805,855 725,800
3,208,796 3,558,419
2019-2020 2018-2019
Taka Taka
15. COST OF SALES
Opening inventories 28,721,270 50,006,707

Add: Purchase 349,834,178 185,230,503
378,555,448 235,237,210
Less: Closing inventories 52,696,135 28,721,270
325,859,313 206,515,940

2019-2020 2018-2019
Taka Taka
16. ADMINISTRATIVE, SELLING AND DISTRIBUTION EXPENSES

Advertisement 8,255,686 12,135,974
Travelling & conveyance 14,117,484 8,027,986
Fuel & lubricants 1,851,436 1,359,535
Electricity, gas & water 410,622 -
Cleaning & security services 43,508 -
Field force expenses 9,402,476 19,088,164
Meeting and corporate expenses 989,994 156,067
Marketing & sales promotion 11,407,173 32,124,335
Sample 2,529,651 12,195,958
Postage, telex, fax & telephone 1,135,145 981,650
Insurance 224,731 202,923
Repair & maintenance 988,752 721,353
Stationery & supplies 963,014 671,414
Entertainment 632,317 572,464
Audit fees 51,750 51,750
Medical Expenses 1,913,674 1,863,465
Depreciation 1,975,155 963,944
Other expenses 449,125 570,741
152,664,766 168,438,461
17. DISCLOSURE AS PER REQUIREMENT OF SCHEDULE XI, PART II OF THE COMPANY ACT 1994
17.1 Employee position of Purnava Limited as per requirement of schedule XI, part II, para 3
The company engaged 131 employees of which 124 are permanent employees and 7 are casual and temporary workers
as required. All employees received total remuneration of above Tk. 36,000 per annum.
18. PAYMENTS/ RECEIPTS IN FOREIGN CURRENCY
18.1 During the year the following payments were made in foreign currency for imports calculated on CIF basis of:
Foreign Foreign Local

currency currency currency
Euro USD Taka
Finished goods 17,107 267,731 24,417,734

17,107 267,731 24,417,734
•139
19. RELATED PARTY DISCLOSURES
During the year the Company carried out a number of transactions with related parties in the normal course of
business on an arm's length basis. Name of those related parties, nature of those transactions and their total value
have been shown in the table below in accordance with IAS 24 "Related Party Disclosures".
Name of Nature of Value of Balance at

Relationship
related parties transactions transaction year end
Purchase of goods 150,478,857 -

Renata Limited Parent
Advance 97,500,000 337,500,000
Renata Agro Subsidiary of Purchase of goods 90,457,840 19,648,137

Industries Ltd. parent
20. EVENTS AFTER THE REPORTING PERIOD
20.1 The Board of Directors in its meeting held on 26 October, 2020 approved the audited financial statement of
the company for the year ended 30 June, 2020 and authorised the same for issue.
20.2 No material events occurred after the date of statement of audited financial position, non-disclosure of
which could affect the ability of the users of these audited financial statements to make appropriate
evaluation.
Place: Dhaka
Dated: 26 October, 2020

Renata (UK) Limited
and
Renata Pharmaceutical
(Ireland) Limited
EU regulations stipulate that only European corporate
entities may conduct medicines business within its
borders. Accordingly, we set up Renata UK. However,
in the event of Brexit, our UK entity would no longer
be sufficient to carry out operations within the EU.
Therefore, we established a subsidiary company in
the name of Renata Pharmaceutical (Ireland) Limited
to fulfill the regulatory requirement. The company has
not made any financial transaction yet.
•141
Renata Limited
and its Subsidiaries
Independent
Auditor’s Report and
Audited Consolidated
Financial Statements For the year ended 30 June 2020

Independent Auditor’s
Report to the shareholders of Renata Limited
Report on the Audit of the Consolidated Financial Statements
Opinion
We have audited the consolidated financial statements of Renata Limited and its subsidiaries (the Group), which comprise the
consolidated statement of financial position as at 30 June 2020 and the consolidated statement of profit or loss and other
comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the year then
ended, and notes to the consolidated financial statements, including a summary of significant accounting policies. The financial
statements of subsidiaries disclosed in note # 3.20 to these financial statements were audited by other auditors and we have
relied on those audited financial statements for the purpose of consolidation.
In our opinion, the accompanying consolidated financial statements give a true and fair view of the consolidated financial position
of the Group as at 30 June 2020 and of its consolidated financial performance and its consolidated cash flows for the year then
ended in accordance with International Financial Reporting Standards (IFRSs).
Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those
standards are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements section
of our report. We are independent of the Group in accordance with the International Ethics Standards Board for Accountants’
Code of Ethics for Professional Accountants (IESBA Code), and we have fulfilled our other ethical responsibilities in accordance
with the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our opinion.
Emphasis of Matter
We draw attention to note # 1.3 to the consolidated financial statements which describe the amalgamation of the fully owned
subsidiary Renata Oncology Limited with the Company. The Board of Directors of Renata Oncology Limited and Renata Limited
in their joint meetings held on 11 November 2019 and 13 November 2019 approved the amalgamation of Renata Oncology
Limited with the Company, whereby the Subsidiary will merge with the Company and the Company shall be the surviving entity.
Our opinion is not modified in respect of this matter. The financial statements reflect financial result of the amalgamated entity.
Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Consolidated
Financial Statements of the current period. These matters were addressed in the context of our audit of the consolidated financial
statements as a whole and in forming our opinion thereon and we do not provide a separate opinion on these matters.
1. Revenue (Turnover)
See note # 23 to the consolidated financial statements
ISAs require that, as part of our overall response to the risk of We performed walkthroughs of the revenue cycle at
fraud, when identifying and assessing the risks of material significant components to gain an understanding of when the
misstatement due to fraud, we evaluate which types of revenue should be recognized, to map out the relevant
revenue or revenue transactions might give rise to potential controls end to end and the processes in place.
fraud risks.
We assessed the design and implementation of these
The principal activities of the Group are manufacturing, controls. We tested the sample of individual sales
marketing and distribution of pharmaceutical, animal health transactions and traced to dispatch notes and subsequent
products, oncology-based products, agro-based products, cash receipt or other supporting documents. We have tested
poultry products and consumer products across a number of the design and operating effectiveness of key controls
geographical areas in home and abroad. We have specifically focusing on the following:
focused this key audit matter to cut-off and occurrence for
revenue recorded within 30 June 2020. Pressures to meet • Calculation of discounts, incentives and rebates;
stakeholders’ expectations could provide incentives to record • Segregation of duties in invoice creation and modification;
revenues where controls of the goods have not passed. • Timing of revenue recognition;
• Cross match sales order, sales invoices and dispatch
carefully.
•143
We performed analytical reviews to identify any unusual or
one-off material revenue transactions. We identified and
considered the impact of any credit notes or inventory returns
occurring after year-end, including evaluating the impact of
any material overdue debts from customers.
With regard to the implementation of IFRS 15 “Revenue

from Contract with Customers”, we verified management’s
conclusion from assessing different types of contracts and
the accuracy of the revised accounting policies in light of the
industry specific circumstances and our understanding of the
business. We tested the appropriateness of the accounting
treatment on a sample basis. In addition, we verified the
accuracy of IFRS 15 related disclosures.
We were satisfied that the revenue recognition policies have

been applied appropriately. Based on the work performed,
we concluded that revenue has been recorded
appropriately.
2. Carrying value of investment in subsidiaries
See note # 1.4 & 7 to the consolidated financial statements

Renata Limited has invested in equity shares of its We have reviewed management’s analysis of impairment
subsidiaries namely Renata Agro Industries Limited, Purnava assessment and recoverable value of subsidiaries in
Limited, Renata (UK) Limited and Renata Pharmaceuticals accordance with IAS-36.
(Ireland) Limited. As at 30 June 2020 the carrying value of the
investments that have been eliminated upon consolidation In particular, our discussions with management was focused
are accordingly BDT 60,570,476 in Renata Agro Industries on the continued appropriateness of the value in use model,
Limited, BDT 2,499,900 in Purnava Limited, BDT 110 in the key assumptions used in the model, the reasonably
Renata (UK) Limited and BDT 9,610 in Renata possible alternative assumptions, particularly where they had
Pharmaceuticals (Ireland) Limited. the most impact on the value in use calculation. The balance
of the investment in subsidiaries is eliminated in the
At the time of audit of our separate financial statements of the consolidation. One of the Subsidiaries, Purnava Limited, has
Company, we have considered the recoverable value of the a negative NAV. But Management has assessed the
Company’s investment in subsidiaries. business prospect and progress of Purnava Limited and
working on attaining greater market share and to increase
sales.
We also checked the mathematical accuracy of the valuation

model, challenged the discount rate used within the model,
inputs used in the determination of assumptions within the
model were challenged and corroborating information was
obtained in reference to third party sources. We carefully
checked the elimination of the investment in subsidiaries and
found correct.
3. Inventory

At the reporting date, the carrying value of inventory • Assessing the compliance of Group’s accounting policies
amounted to Taka 5,239,910,161 which is 17.83% of total over inventory with applicable accounting standards.
assets. Inventories were considered as a key audit matter • Assessing the inventory valuation process and practices.
due to the size of the balance and because inventory On major locations, we tested the effectiveness of the key
valuation involves management judgement. controls.
• Assessing the analyses made by management with
Inventory valuation and existence was an audit focus area respect to slow moving and obsolete stock.
because of the number of locations/stores that inventory was • Attending inventory count on 30 June 2020 and

held at, and the judgement applied in the valuation of reconciling the count results to the inventory listings to test
inventory to incorporate inventory shrinkage. the completeness of data.
• Comparing the net realizable value, obtained through a
According to the Group’s accounting policy, inventories are detailed review of sales subsequent to the year-end, to
measured at the lower of cost or net realizable value. the cost price of a sample of inventories.
• Reviewing the historical accuracy of inventory
The Group has specific procedures for identifying risk for provisioning, and the level of inventory write-offs during
obsolete items and measuring inventories at the lower of cost the year.
and net realizable value. • Evaluating the correctness of the valuation of raw
materials and packing material as per FIFO method.
• Reviewing the calculation of standard labor hours and
their regular comparison with actual labor hours of
production; and reviewing the process of valuing
work-in-progress.
We were satisfied that the inventory recognition and

measurement policies have been applied appropriately.
Based on the work performed, we concluded that inventories
have been recorded appropriately.
4. Property, plant and equipment and capital work-in-progress
See note # 5 & 6 to the consolidated financial statements

At the reporting date, the carrying value of the Group’s • We obtained an understanding of the client and its
property, plant and equipment and capital work- in- progress environment to consider inherent risk related to property,
amounted to Taka 12,178,739,235 and 2,020,732,811 plant, and equipment. Our understanding includes:
respectively. The valuation of property, plant, and equipment
was identified as a key audit matter due to the significance of  Obtaining an understanding of the internal control over
this balance to the financial statements, as well as the property, plant, and equipment.
significance of management’s judgments in determining its
valuation.  Assessing the risks of material misstatement and
designing tests of controls and substantive procedures
In considering the valuation of property, plant, and that cover the following aspects:
equipment, we focused on the assessment of the followings:
• Substantiate the existence of property, plant, and
• Inherent risks associated with property, plant and equipment.
equipment. • Establish the completeness of recorded property, plant,
• Potential misstatements in property, plant, and equipment and equipment.
on account of frauds and errors. • Verify the cut-off of transactions affecting property, plant,
• Assessment of useful lives of assets. and equipment.
• Assessment of impairment of assets. • Establish the proper valuation or allocation of property,
plant, and equipment and the accuracy of transactions
Inherent risks associated with property, plant and equipment affecting property, plant, and equipment.
• Property, plant and equipment may include assets that • Determine the correctness and appropriateness of
should have been derecognized following sale, other classification of property, plant and equipment.
transfer of rights or abandonment or impairment. • We obtained an understanding of the potential
• Expenditure that should have been recognized as misstatements in property, plant, and equipment on
property, plant and equipment but has not been so account of frauds and errors.
recognized, including capitalized finance costs. • We evaluated the assumptions made by management in
• Depreciation may have been incorrectly calculated. the determination of useful lives to ensure that these are
• Potential misstatements in property, plant, and equipment consistent with the principles of IAS 16. “Property, Plant
on account of frauds and errors. and Equipment”.
• Purchase of an asset at an inflated price especially from a • We compared the useful lives of each class of asset in the
related party. current year to the prior year to determine whether there
• Wrong write-off of the asset as scrap, obsolescence, were any significant changes in the useful lives of assets,
missing, donated, or destroyed. and considered the reasonableness of changes based on
• Expenditures for repairs and maintenance recorded as our knowledge of the business and the industry.
property, plant and equipment or vice versa. • We verified records e.g. contractor bills, work orders and
•145
• Capitalization of expenditure which are not normally certification of work performed by the specialized personnel
attributable to the cost of the property, plant and to ensure that the assets under construction or pending
equipment. installation and not yet ready for intended use are
• Recording of an asset purchased, which in effect has not classified as work- in- progress.
actually been received by the entity at all.
• We also verified the date on which the assets are moved
Valuation of capital work-in-progress to PPE from the capital work-in-progress account to the property,
Management needs to ensure that the assets under plant and equipment (the date on which the asset is ready
construction or pending installation and not yet ready for for intended use), so that the depreciation on property,
intended use are classified as work- in- progress. An plant and equipment has been computed correctly.
appropriate system needs to put in place to capture all
directly identifiable costs, which can be capitalized, to be so • We reconciled the movement of capital work- in- progress
accumulated to capital work- in- progress whilst expenses from opening to closing, specifically verifying additions
which are not eligible for being capitalized are identified and during the year, capital assets completed during the year
charged to revenue in the normal course. and impairment of any opening capital work- in- progress
items.
Assessment of useful lives of assets
Management applies estimates and judgments in its • We assessed whether there are circumstances that
determination of useful lives of assets and reviews the useful indicate a possible impairment of property, plant and
lives of assets at each financial year end and adjusts for equipment and if such circumstances exist, how the same
changes, where appropriate. have been dealt with by the entity.
Impairment of assessment We were satisfied that the property, plant and equipment
At the end of each reporting period, management assesses recognition and measurement policies have been applied
whether there is any indication that an asset may be appropriately. Based on the work performed, we concluded
impaired. If any such indication exists, management that property, plant and equipment have been recorded
estimates the recoverable amount of the asset. If the appropriately.
recoverable amount of an asset is less than its carrying
amount, the carrying amount of the asset is reduced to its
recoverable amount.
5. Contingent liabilities with regard to tax

The range of possible outcomes for contingencies can be We evaluated the design and tested the operating
wide and management is required to make certain judgments effectiveness of controls in respect of the recognition and
in respect of estimates of contingencies in order to assess the measurement of uncertain tax provisions. We determined
adequacy of tax provisions. that we could rely on these controls for the purposes of our
audit.
The Group disclosed contingent liabilities amounted to Taka
136,702,333 in respect of unresolved disputed tax claimed by With the assistance of our tax specialists, we evaluated
the tax authority over the years. management’s judgments and estimates of tax exposures
and contingencies in order to assess the adequacy of the
Contingent liabilities were considered as a key audit matter Group’s tax provisions. In understanding and evaluating
because unexpected adverse outcomes could significantly management’s judgments, we considered the status of recent
impact the Group’s reported profit and balance sheet and current tax authority audits and enquiries, judgmental
position. positions taken in tax returns and current year estimates and
developments in the tax environment.
Based on the work performed, we concluded that contingent

liabilities in respect of tax have been disclosed appropriately.
6. Related party transactions

The Group has related party transactions and we focused on Our audit procedures amongst others included the following:
identification of related parties and disclosure of related party
transactions in accordance with relevant accounting • Evaluated the design and tested the operating
standards. effectiveness of controls over identification and disclosure

of related party transactions.
• Evaluated the transactions among the related parties and
tested material accounts balances.
• Evaluated the Board of Director’s approval for the related
parties’ transactions.
• Evaluated the disclosures in the consolidated financial
statements in compliance with IAS 24.
The related party transections were separately disclosed in

the separate financial statements in note # 41.
7. Employee benefits
See note # 21 & 21.1 to the consolidated financial statements

Worker’s participation and welfare fund (note # 21.1) Worker’s participation and welfare fund
As per section 234 (1)(b) of Bangladesh Labour Act 2006 (as We have checked the adequacy of WPPF fund provision and
amended in 2013) 5% of the net profit of each year, not later distribution thereof and observed that, the requirement of the
than nine (9) months from the close of that period, is required Labour Act 2006 (as amended in 2013) followed properly.
to be transferred to the Fund, the proportion of the payment to
the Participation Fund and the Welfare Fund being 80:10. After distribution of some amount, balance of the fund has
The remaining 10% of the amount of net profit shall be paid been transferred to a separate account meant for WPPF for
by the Group to the Workers' Welfare Foundation Fund, as future distribution without any interest payable on the
formed under the provision of the Bangladesh Worker's undistributed amount.
Welfare Foundation Act, 2006. Of the 80% being transferred
to the participation fund, two-third has to be distributed in Defined contribution plan
equal proportions to all the members (beneficiary) of the fund We have checked the contribution of the employees and the
in cash and one-third has to be invested in accordance with contribution of the employer to the provident fund and
the manner as stated in section 242 of that Act. confirmed the distribution as per Labour Act 2006 (as
amended in 2013) and found correct. We confirmed that fund
Defined contribution plan (note # 21) forfeited during current and earlier financial year from existing
The Group operates a recognised provident fund scheme employees have been returned to the mother account and
where employees contribute 8.33% up to 5 years and over 5 from past employees are currently under the process of being
years 10% of their basic salary with equal contribution by the retrieved.
Group. The provident fund is being considered as defined
contribution plan being managed by a Board of Trustees. Defined benefit plan
Renata Limited recognises contributions payable as an Our audit procedures included updating our understanding of
expense in the period in which the employee provides the business processes followed by the Group for accounting
services. A liability is recognised where contributions arise in and valuing their defined benefit plan.
relation to an employee's service, but remain unpaid at the
period end. We obtained sufficient audit evidence to conclude that the
inputs and methodologies used to determine the liability and
Defined benefit plan determination of the expenses and its basis for defined
The Group operates a defined benefit schemes which in total benefit plan.
are significant in the context of the overall financial position.
Liability for gratuity is provisioned and transferred within due We assessed the design and operating effectiveness of the
time to the fund on the basis of actuarial valuation. At year Group’s key controls supporting the identification,
end the Group reported a net defined benefits scheme measurement and oversight of valuation of the defined
expense of Taka 89,373,000. The Group had transferred the benefits payable provision and expenses thereon.
total contribution to the fund and there is no current liability to We examined the basis on which gratuity is payable to the
the fund. Therefore, valuation of the benefit and expenses employee and worked out the liability for gratuity taking into
thereon is considered as a key audit matter. There is sepa- consideration the actuarial valuation.
rate trustee of this benefit plan.
We ensured that the basis of computing gratuity is valid;
verify the computation of liability on aggregate basis and
transferred to the fund within the financial year.
Employee data used in calculating obligation is also tested

and appropriateness and presentation of the disclosures
against IAS 19: Employee Benefits were assessed.
•147
8. Measurement of Deferred Tax Liability

Group reported net deferred tax liability totaling Taka We obtained an understanding, evaluated the design and
1,446,845,163 as at 30 June 2020. tested the operational effectiveness of the Group’s key
controls over the recognition and measurement of deferred
Significant judgment is required in relation to deferred tax tax assets and liabilities and the assumptions used in
liability as it is dependent on forecasts of future profitability estimating the future taxable expense of the Group.
over a number of years.
We also assessed the completeness and accuracy of the
data used for the estimations of future taxable expense.
We evaluated the reasonableness of key assumptions, timing

of reversal of temporary differences and expiration of tax loss
carry forwards, recognition and measurement of deferred tax
liability.
We assessed the adequacy of the Group’s disclosures

setting out the basis of deferred tax liability balances and the
level of estimation involved.
We also assisted in evaluating the tax implications, the

reasonableness of estimates and calculations determined by
management.
Finally assessed the appropriateness and presentation of

disclosures as per IAS 12 Income Taxes.
9. Audit of opening balances- consolidated financial statements

The consolidated financial statements of the Company for the Our procedures, in relation to the key audit matter described,
financial year ended on 30 June 2020 was the first one being included, among others:
subject to our audit.
• meeting with key personnel responsible for financial
In accordance with International Standards on Auditing 510: reporting of the Group as well as meetings with members
Initial Engagements- Opening Balances, the first-year audit of of the audit team, including specialists planned to be
financial statements requires performing of a few additional involved in the audit procedures;
audit procedures that are limited in the case of the audit • understanding of the Group’s operations, its business
performed for a consecutive year. environment and key risk areas related to its operations;
• understanding of the Group’s internal control
The purpose of these additional audit procedures is to collect environment, including also tests of identified controls;
sufficient and relevant audit evidence about whether: • understanding of the Group’s IT environment;
• understanding of the accounting policy of the Group and
• opening balances contain misstatements that materially assessing the continuity of its application;
affect the financial statements for the current period; and • understanding of key areas of estimation and professional
• appropriate accounting policy applied to the opening judgment of the Group’s management;
balances was used continuously in the preparation of • communication with the previous auditor on matters
financial statements for the current period, or whether the including;
changes made were correctly accounted for and properly • a discussion of key audit issues and reading of audit
presented in accordance with the applicable financial documentation from the previous reporting period;
reporting framework. • assessment of the key audit issues from the previous
reporting period and their impact on the consolidated and
Accordingly, this issue was identified as key audit matter for separate financial statements for the current financial
the audit of the consolidated and separate financial year;
statements of the Group.

10. IT systems and controls
Our audit procedures have been focused on IT systems We tested the design and operating effectiveness of the
(Desa & Oracle) and controls due to the pervasive nature and Group’s IT access controls over the information systems that
complexity of the IT environment, the large volume of are critical to financial reporting.
transactions processed in numerous locations (Head office,
Factories and Depots) daily and the reliance on automated We tested IT general controls (logical access, changes in
and IT is dependent on manual controls. data management and aspects of IT operational controls).
This included testing that requests for access to systems
were appropriately reviewed and authorized.
We tested the Group’s periodic review of access rights. We

also inspected requests of changes to systems for
appropriate approval and authorization. We considered the
control environment relating to various interfaces,
configuration and other application layer controls identified as
key to our audit. Where deficiencies were identified, we
tested compensating controls or performed alternate
procedures with CISA expert.
In addition, we understood where relevant, changes were

made to the IT landscape during the audit period and tested
those changes that had a significant impact on financial
reporting.
Other Matter
The consolidated financial statements of the Group for the year ended 30 June 2019 were audited by another auditor who
expressed an unmodified opinion on these consolidated financial statements on 29 October 2019.
Other Information
Management is responsible for the other information. The other information comprises the director’s reports, financial highlights,
financial trend, statement of value addition and certification on corporate governance but doesn’t include the financial statements
and our auditor’s report. The director’s reports, financial highlights, financial trend, statement of value addition and certification
on corporate governance are expected to be made available to us after the date of this auditor’s report.
Our opinion on the financial statements does not cover the other information and we do not express any form of assurance
conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information identified above when
it becomes available and, in doing so, consider whether the other information is materially inconsistent with the financial
statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.
When we read the director’s reports, financial highlights, financial trend, statement of value addition and certification on corporate
governance that there is a material misstatement therein, we are required to communicate the matter to those charged with
governance.
Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements and
Internal Controls
Management is responsible for the preparation of the consolidated financial statements that give a true and fair view in
accordance with IFRSs, the Companies Act 1994, the Securities and Exchange Rules 1987, relevant notifications issued by
Bangladesh Securities and Exchange Commission (BSEC) and other applicable laws and regulations and for such internal
control as management determines is necessary to enable the preparation of consolidated financial statements that are free from
material misstatement, whether due to fraud or error.
In preparing the consolidated financial statements, management is responsible for assessing the Group’s ability to continue as
a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting
unless management either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.
•149
Those charged with governance are responsible for overseeing the Group’s financial reporting process.
Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable
assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs will always detect
a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually
or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these
consolidated financial statements.
As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout
the audit. We also:
• Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or
error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and
appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is
higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations,
or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related
disclosures made by management.
• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit
evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on
the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to
draw attention in our auditor’s report to the related disclosures in the consolidated financial statements or, if such
disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the
date of our auditor’s report. However, future events or conditions may cause the Group to cease to continue as a going
concern.
• Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures,
and whether the consolidated financial statements represent the underlying transactions and events in a manner that
achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the consolidated financial information of the entities or business
activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the
direction, supervision and performance of the Group audit. We remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit
and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements
regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to
bear on our independence, and where applicable, related safeguards.
From the matters communicated with those charged with governance, we determine those matters that were of most significance
in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe
these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely
rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences
of doing so would reasonably be expected to outweigh the public interest benefits of such communication.
Report on other Legal and Regulatory Requirements

In accordance with the Companies Act 1994, the Securities and Exchange Rules 1987 and relevant notifications issued by
Bangladesh Securities and Exchange Commission (BSEC), we also report the following:
a) we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for
the purposes of our audit and made due verification thereof;

b) in our opinion, proper books of accounts as required by law have been kept by the Group so far as it appeared from our
examination of these books;
c) the consolidated statement of financial position and consolidated statement of profit or loss and other comprehensive
income dealt with by the report are in agreement with the books of accounts and returns; and
d) the expenditure incurred was for the purposes of the Group’s business.

ACNABIN
Dhaka, M. Moniruzzaman, FCA

26 October 2020 Partner
•151
RENATA LIMITED AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2020
Amount in Taka
ASSETS Notes 30 June 2020 30 June 2019

Non-current assets
Property, plant and equipment 5 12,178,739,235 10,866,354,030
Capital work-in-progress 6 2,020,732,811 1,705,298,103
Long term investment 7 10,000,000 10,936,180
14,209,472,046 12,582,588,313
Current assets
Inventories 8 5,239,910,161 4,337,427,836
Trade and other receivables 9 3,148,571,520 2,754,102,961
Investment in shares and FDR 11 4,806,919,055 3,682,734,594
Cash and cash equivalents 12 1,417,264,953 849,907,204
15,176,305,951 12,093,188,860
TOTAL ASSETS 29,385,777,997 24,675,777,173

Share capital 13 885,892,420 805,356,750
Revaluation surplus 14 153,854,296 154,331,208
Tax holiday reserve 46,637,673 46,637,673
Other reserves 14.a (43,065,180) -
Fair value reserve 15 13,709,475 54,338,060
Retained earnings 16 20,705,254,771 17,535,319,640
Equity attributable to equity holders of Renata Limited 21,762,283,455 18,595,983,331
Non-controlling interests 17 48,803 64,104
Total equity 21,762,332,258 18,596,047,435
Non-current liabilities
Deferred tax liabilities 18 1,446,845,163 1,343,870,038
1,446,845,163 1,343,870,038
Current liabilities
Short term bank loan and overdrafts 19 2,981,137,076 2,562,606,715
Trade payables 20 523,338,327 577,121,240
Other payables 21 1,304,153,638 788,416,707
Provision for taxation 22 1,367,971,535 807,715,038
6,176,600,576 4,735,859,700
TOTAL EQUITY AND LIABILITIES 29,385,777,997 24,675,777,173
Net asset value (NAV) per share 29 245.65 209.91

The annexed notes from 1 to 41 form an integral part of these Consolidated Financial Statements.

This is the Consolidated Statement of Financial Position referred to in Signed for & on behalf of
our separate report of even date. ACNABIN
Dhaka, M. Moniruzzaman, FCA

26 October 2020 Partner
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER
COMPREHENSIVE INCOME
Amount in Taka
Notes 2019- 2020 2018-2019

Turnover 23 24,674,812,094 22,809,301,672
Cost of sales 24 (13,063,170,411) (11,493,509,493)
Gross profit 11,611,641,683 11,315,792,179

Selling, marketing and distribution expenses 26 (5,275,247,807) (5,572,622,117)
Operating profit 5,858,744,759 5,290,455,192
Other income 27 546,456,242 279,257,427

Finance costs 28 (227,714,021) (154,602,032)
Profit before contribution to workers' participation fund 6,177,486,980 5,415,110,587
Contribution to workers' participation and welfare fund (299,600,394) (260,688,861)

Tax expenses
Current tax 22 (1,758,124,679) (1,299,306,117)
Deferred tax 18 (107,648,572) (99,611,316)
(1,865,773,251) (1,398,917,433)
Attributable to:
Equity holders of Renata Limited 4,012,126,486 3,755,508,969
Non-controlling interests (13,151) (4,676)
Total profit after tax for the year 4,012,113,335 3,755,504,293
Other comprehensive income

Items that will not be reclassified to profit or loss
Fair value adjustment on investment in shares, net of tax (40,630,281) (2,405,394)
Attributable to:
Equity holders of Renata Limited 3,971,497,900 3,752,991,207
Non-controlling interests (14,846) (4,906)
Basic earnings per share (EPS) 30 45.29 42.39
This is the Consolidated Statement of Profit or Loss and Other Comprehensive Signed for & on behalf of
Income referred to in our separate report of even date. ACNABIN
Dhaka,
26 October 2020 M. Moniruzzaman, FCA
Partner
•153
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Amount in Taka
Attributable to equity holders of Renata Limited

Non- Total
Particulars Share Revaluation Tax Other Fair value Retained Equity for controlling
interest equity
holiday Renata
capital surplus reserve reserve reserve earnings Limited
Balance at 01 July 2018 700,310,221 154,808,121 46,637,673 - 56,743,224 14,549,628,623 15,508,127,862 69,010 15,508,196,872
Stock dividend issued 105,046,529 - - - - (105,046,529) - - -
Final dividend - - - - - (665,294,710) (665,294,710) - (665,294,710)
Adjustment of deferred tax liability due to extra - 158,972 - - - - 158,972 - 158,972
depreciation charged to revaluation reserve
Depreciation adjustment on revalued assets - (635,885) - - - 635,885 - - -

Net profit after tax for the year - - - - - 3,755,508,969 3,755,508,969 (4,676) 3,755,504,293
Fair value adjustment on investment in shares, - - - - (2,405,164) - (2,405,164) (230) (2,405,394)
net of tax
Realised loss on disposal of shares - - - - (112,598) - (112,598) - (112,598)

Transfer between reserves- realised loss on - - - - 112,598 (112,598) - - -
disposal of shares
Balance at 30 June 2019 805,356,750 154,331,208 46,637,673 - 54,338,060 17,535,319,640 18,595,983,331 64,104 18,596,047,435
Balance at 01 July 2019 805,356,750 154,331,208 46,637,673 - 54,338,060 17,535,319,640 18,595,983,331 64,104 18,596,047,435
Stock dividend issued 80,535,670 - - - - (80,535,670) - - -
Final dividend (cash dividend) - - - - - (805,356,750) (805,356,750) - (805,356,750)
Transfer to Other reserves due to merger of - - - - - 43,065,180 43,065,180 - 43,065,180
Renata Oncology Limited
Adjustment of non-controlling interests due to - - - - - 454 454 (454) -

merger of Renata Oncology Limited
Other reserves due to merger of - - - (43,065,180) - - (43,065,180) - (43,065,180)

Renata Oncology Limited
Settlement in consideration of cash paid due to - - - - - (454) (454) - (454)

merger of Renata Oncology Limited
Adjustment of deferred tax liability due to extra - 158,972 - - - - 158,972 - 158,972

depreciation charged to revaluation reserve
Depreciation adjustment on revalued assets - (635,885) - - - 635,885 - - -

Net profit after tax for the year - - - - - 4,012,126,486 4,012,126,486 (13,151) 4,012,113,335
Fair value adjustment on investment in shares, - - - - (40,628,585) - (40,628,585) (1,696) (40,630,281)
net of tax
Balance at 30 June 2020 885,892,420 153,854,296 46,637,673 (43,065,180) 13,709,475 20,705,254,771 21,762,283,455 48,803 21,762,332,258

CONSOLIDATED STATEMENT OF CASH FLOWS
Amount in Taka
Notes 2019 - 2020 2018 - 2019
A. Cash flows from operating activities
Collection from customers and other income 29,122,148,198 26,941,386,124

Payment of VAT (3,531,472,644) (3,218,341,844)
Payment to suppliers and employees (19,473,197,093) (18,032,469,031)
Finance costs (232,595,600) (153,933,538)

Payment of tax (1,199,298,537) (1,305,668,672)
Net cash flow from operating activities 31 4,685,584,324 4,230,973,039
B. Cash flows from investing activities
Purchase of property, plant and equipment (2,583,731,138) (1,848,745,480)

Investment in shares and FDR (1,167,235,112) (2,016,994,460)
Income from investment 2,092,451 4,371,934
Sale proceeds of property, plant and equipment 15,332,500 7,964,558
Net cash used in investing activities (3,733,541,299) (3,853,403,448)
C. Cash flows from financing activities
Loan (repaid) / received (net) 413,277,631 49,637,649

Dividend paid (799,596,832) (664,396,684)
Net cash used in financing activities (386,319,201) (614,759,035)
D. Effect of exchange rate changes on cash and cash equivalents 1,633,925 3,364,206
E. Net cash inflow/(outflow) for the year (A+B+C+D) 567,357,749 (233,825,238)
F. Cash and cash equivalents at the beginning of the year 849,907,204 1,083,732,442
G. Cash and cash equivalents at the end of the year (E+F) 1,417,264,953 849,907,204
Net operating cash flow per share 32 52.89 47.76
Dhaka,
26 October 2020
•155
Renata Limited and its Subsidiaries
Notes to the consolidated financial statements
As at and for the year ended 30 June 2020
1. Reporting entity
1.1 Company profile

Renata Limited (the “Company”) is a public limited company incorporated in Bangladesh in 1972 as Pfizer Laboratories
(Bangladesh) Limited under the Companies Act 1913. The Company was listed with Dhaka Stock Exchange Limited on
12 May 1979. Subsequently, the Company was renamed as Renata Limited in 1993. The registered office of the
Company is situated at Plot # 1, Milk Vita Road, Section-7, Mirpur, Dhaka-1216.

The principal activities of the Group are manufacturing, marketing and distribution of pharmaceutical, animal health
products, oncology-based products, agro-based products, poultry products, consumer products and so on.
1.3 Merger of Renata Limited and Renata Oncology Limited

Renata Limited acquired 99.99% of equity interest in Renata Oncology Limited on 12 August 2012. The businesses of
Renata Limited and Renata Oncology Limited are very much co-related with each other and are in many cases also
supplementary to each other. For the purpose of conducting their business more efficiently and profitably, the Board of
Directors of the companies decided to undertake a Scheme of Amalgamation of Renata Oncology Limited with Renata
Limited under provision of section 228 & 229 of the Companies Act, 1994.
After approval of the Board of Directors and consent of minority shareholder, the Hon'ble High Court Division of the
Supreme Court of Bangladesh has sanctioned the Scheme of Amalgamation of Renata Oncology Limited with Renata
Limited on 26 July 2020 with effect from the appointed date 01 July 2019. The audited financial statements of Renata
Oncology Limited on 30 June 2019 have been used to account for the assets and liabilities of Renata Oncology Limited
in the books of Renata Limited.
Renata Oncology Limited will no longer continue as a separate entity as a result of amalgamation, rather all the
undertakings have entirely been transferred to Renata Limited at its continuing value. In accordance with the Scheme of
Amalgamation, Renata Limited paid in consideration at cash of net asset value equivalent to the share exchange ratio
that comes to 0.02 Renata Limited’s share for each share of Renata Oncology Limited to the ordinary minority
shareholder of Renata Oncology Limited, whose names were recorded in the Register of Members on the Record Date,
fixed by the Board of Directors of Renata Limited. Ordinary shares of Renata Oncology Limited that were held by Renata
Limited on the Record Date have been cancelled and deemed to have been cancelled without any further act or deed and
no shares of Renata Limited are required to be issued in lieu thereof. Finally, the deficit amount of Tk. 43,065,180 of the
net assets of Renata Oncology Limited over the net assets value of the shares settled in consideration of cash of Tk. 454
by Renata Limited have been transferred and debited to “Other Reserves” in the books of Renata Limited pursuant to the
Scheme of Amalgamation.
1.4 Subsidiaries
Subsidiaries are entities controlled by Renata Limited. An investor controls an investee when it is exposed, or has rights,
to variable returns from its involvement with the investee and has the ability to affect those returns through its power over
the investee. The followings are the subsidiaries of Renata Limited:

Renata Agro Industries Limited, a subsidiary Company of Renata Limited, was incorporated on 7 September 1997 as a
private limited company under the Companies Act 1994 with authorized share capital of Tk. 150,000,000 divided into
1,500,000 ordinary shares of Tk. 100 each. The Company commenced its commercial operation from October 1998. The
principal activities of the Company comprise of poultry breeding and hatching and selling of various agro based products.
Renata Limited holds 99.99% of equity interest in Renata Agro Industries Limited.
Purnava Limited
Purnava Limited, a subsidiary Company of Renata Limited, was incorporated on 17 August 2004 as a private limited
company under the Companies Act 1994 with authorized share capital of Tk. 200,000,000 divided into 2,000,000 ordinary
shares of Tk. 100 each. The Company commenced its commercial operation in 2009. The principal activities of the
Company are manufacturing, marketing and distribution of all kinds of consumer goods, consumer durables, food items,
edible oils and so on and to engage in the business as traders, importers, exporters, commission agents of all kinds

of goods and services including pharmaceutical products. Renata Limited holds 99.99% of equity interest in Purnava
Limited.
Renata (UK) Limited

Renata (UK) Limited, a subsidiary Company of Renata Limited, was incorporated on 26 September 2013 as a private
limited company under the UK Companies Act 2006. The registered office of the Company is situated at Greenway
Business Centre, Harlow Business Park, Harlow, England, CM19 5QE. Renata Limited holds 100% of equity interest in
Renata (UK) Limited.
Renata Pharmaceuticals (Ireland) Limited

Renata Pharmaceuticals (Ireland) Limited, a subsidiary Company of Renata Limited, was incorporated on 24 April 2019
as a private limited company under the Irish Companies Act 2014. The registered office of the Company is situated at
13/18 City Quay, Dublin 2, Ireland. Renata Limited holds 100% of equity interest in Renata Pharmaceuticals (Ireland)
Limited.
2. Basis of preparation of financial statements
2.1 Reporting framework and compliance thereof

The consolidated financial statements have been prepared in compliance with the requirements of the Companies Act
1994, the Securities and Exchange Rules 1987, the Listing Regulations of Dhaka Stock Exchange (DSE) and other
relevant local laws as applicable, and in accordance with the International Financial Reporting Standards (IFRSs) issued
by the International Accounting Standards Board (IASB) and adopted by the Institute of Chartered Accountants of
Bangladesh (ICAB).
2.2 Application of International Financial Reporting Standards (IFRSs)

The following IFRSs are applicable for the financial statements for the year under review:
IAS 1 Presentation of financial statements

IAS 2 Inventories
IAS 7 Statement of cash flows
IAS 8 Accounting policies, changes in accounting estimates and errors
IAS 10 Events after the reporting period
IAS 12 Income taxes
IAS 16 Property, plant and equipment
IAS 19 Employee benefits
IAS 21 The effects of changes in foreign exchange rates
IAS 23 Borrowing costs
IAS 24 Related party disclosures
IAS 33 Earnings per share
IAS 34 Interim financial reporting
IAS 36 Impairment of assets
IAS 37 Provisions, contingent liabilities and contingent assets
IFRS 3 Business combinations
IFRS 7 Financial instruments: disclosures
IFRS 9 Financial instruments
IFRS 10 Consolidated financial statements
IFRS 12 Disclosure of interests in other entities
IFRS 13 Fair value measurement
IFRS 15 Revenue from contracts with customers
2.3 Measurement of elements in the financial statements

Measurement is the process of determining the monetary amounts at which the elements of the financial statements are
to be recognised and carried in the statement of financial position and profit or loss and other comprehensive income. The
measurement basis adopted by the Group is historical cost except for few of the property, plant and equipment,
financial assets and inventories which are stated in the accounting policies mentioned in the respective notes.
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2.4 Basis of consolidation
The group financial statements include the financial statements of Renata Limited and subsidiaries that it controls. The
Group prepares consolidated financial statements using uniform accounting policies for like transactions and other events
in similar circumstances. Consolidation of an investee shall begin from the date the investor obtains control of the
investee and cease when the investor loses control of the investee. Intra-group assets and liabilities, equity, income,
expenses and cash flows relating to transactions between entities of the Group are eliminated in full. Profits or losses
resulting from intra-group transactions that are recognised in assets are eliminated in full. The Group presents
non-controlling interests in the consolidated statement of financial position within equity, separately from the equity of the
owners of Renata Limited.
2.5 Functional and presentational currency and level of precision

The consolidated financial statements are prepared in Bangladesh Taka (BDT), which is the Group's functional currency.
All financial information is presented in BDT and has been rounded off to the nearest BDT.
2.6 Use of estimates and judgment

The preparation of consolidated financial statements in conformity with International Financial Reporting Standards
requires management to make judgments, estimates and assumptions that affect the application of accounting policies
and the reported amounts of assets, liabilities, income and expenses, and disclosures requirements for contingent assets
and liabilities during and at the date of the financial statements.
Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis.
Revisions of accounting estimates are recognised in the period in which the estimate is revised and in any future periods
affected as required by IAS 8: Accounting Policies, Changes in Accounting Estimates and Errors. In particular, significant
areas of estimation uncertainty and critical judgments in applying accounting policies that have the most significant effect
on the amounts recognised in the consolidated financial statements include depreciation, amortization, impairment, net
realizable value of inventories, accruals, taxation and provision.
2.7 Comparative information and rearrangement thereof

Comparative figures have been re-arranged wherever considered necessary to ensure better comparability with the
current period without causing any impact on the profit and value of assets and liabilities as reported in the consolidated
financial statements.
2.8 Going concern

When preparing consolidated financial statements, management makes an assessment of the Group’s ability to continue
as a going concern. The Group prepares consolidated financial statements on a going concern basis. The Group has
assessed the impact of COVID-19 on its going concern and found no threat in upcoming years.
2.9 Accrual basis of accounting

The Group prepares its consolidated financial statements, except for cash flow information, using the accrual basis of
accounting. Since the accrual basis of accounting is used, the Group recognises items as assets, liabilities, equity,
income and expenses (the elements of financial statements) when they satisfy the definitions and recognition criteria for
those elements in the Framework.
2.10 Materiality and aggregation

The Group presents separately each material class of similar items. The Group presents separately items of a dissimilar
nature or function unless they are immaterial. Financial statements result from processing large numbers of transactions
or other events that are aggregated into classes according to their nature or function.
2.11 Offsetting
The Group does not offset assets and liabilities or income and expenses, unless required or permitted by an IFRS.
2.12 Date of authorization for issue of the financial statements

On 26 October 2020 the Board of Directors reviewed the consolidated financial statements and authorized them for issue.
3. Summary of significant accounting policies

The Group selects and applies its accounting policies consistently for similar transactions, other events and conditions,
unless an IFRS specifically requires or permits categorization of items for which different policies may be appropriate. The
accounting policies set out below have been applied consistently in all material respects to all period presented in these
consolidated financial statements:

Changes in accounting policies
The Group changes its accounting policy only if the change is required by an IFRS or results in the financial statements
providing reliable and more relevant information about the effects of transactions, other events or conditions on the
Group’s financial position, financial performance or cash flows. Changes in accounting policies is to be made through
retrospective application by adjusting opening balance of each affected components of equity i.e. as if new policy has
always been applied.
Changes in accounting estimates

Estimates arise because of uncertainties inherent within them, judgment is required but this does not undermine
reliability. Effect of changes of accounting estimates is included in profit or loss account.
Correction of error in prior period financial statements

The Group corrects material prior period errors retrospectively by restating the comparative amounts for the prior
period(s) presented in which the error occurred; or if the error occurred before the earliest prior period presented,
restating the opening balances of assets, liabilities and equity for the earliest prior period presented.
3.1 Property, plant and equipment (PPE)
Recognition and measurement

The cost of an item of property, plant and equipment is recognised as an asset if, and only if it is probable that future
economic benefits will flow to the Group and the cost of the item can be measured reliably. An item of property, plant and
equipment that qualifies for recognition as an asset is measured at its cost.
Elements of Costs
• Purchase price, including import duties and non-refundable purchase taxes, after deducting trade discounts
and rebates.
• Costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of
operating in the manner intended by the management.
• The initial estimate of the cost of dismantling and removing the item and restoring the site on which it is located.
Subsequent Costs
• Costs of day to day servicing [repairs and maintenance] are recognised as expenditure as incurred.
• Replacement parts are capitalized, provided the original cost of the items they replace is derecognised.
Measurement of property, plant and equipment after recognition
Cost model
After recognition as an asset, an item of property, plant and equipment is carried at its cost less any accumulated
depreciation and any accumulated impairment losses.
Revaluation model
After recognition as an asset, an item of property, plant and equipment is to be measured at a revalued amount, which
is its fair value less subsequent accumulated depreciation and impairment accumulated losses.
Where an asset’s carrying amount is increased as a result of a revaluation, the increase is recognised in other
comprehensive income and accumulated in equity under the heading of revaluation surplus. However, the increase is
recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised
in profit or loss. Where an asset’s carrying amount is decreased as a result of a revaluation, the decrease is recognised
in profit or loss. However, the decrease is recognised in other comprehensive income to the extent of any credit balance
existing in the revaluation surplus in respect of that asset. The revaluation surplus included in equity in respect of an item
of property, plant and equipment is transferred directly to retained earnings as the asset is used by the Group.
Depreciation
The depreciation charge for each period is recognised in consolidated profit or loss unless it is included in the carrying
amount of another asset. Depreciation of an asset begins when it is available for use, i.e. when it is in the location and
condition necessary for it to be capable of operating in the manner intended by management. The residual value and the
useful life of an asset is reviewed at least at each financial year-end and, if expectations differ from previous estimates,
the change(s) shall be accounted for as a change in an accounting estimate. Depreciation has been charged on
straight-line method on all property, plant and equipment that have already been put on operation except land. Full
month's depreciation is charged from the month the asset is put into use and no depreciation is charged for the month of
disposal. Rates of depreciation considering the useful lives of respective assets are as follows:
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Asset Type Depreciation rate (%)
30 June 2020 30 June 2019
Buildings 1.54-5 1.54-5
Plant and machinery 5-20 5-20
Automobiles 25 25
Office equipment 10-12.5 10-12.5
Furniture and fixtures 10 10
Derecognition of property, plant and equipment

The carrying amount of an item of property, plant and equipment is derecognised on disposal or when no future economic
benefits are expected from its use or disposal. The gain or loss arising from derecognition of an item of property, plant
and equipment is included as other income in profit or loss when the item is derecognised. When the revalued assets are
disposed of, the respective revaluation surplus is transferred to retained earnings.
3.2 Leases
IFRS 16 introduces a single, on-balance sheet lease accounting model for lessees. A lessee recognises a right-to-use
asset representing its right to use the underlying asset and a lease liability representing its obligation to make lease
payments. There are recognition exemptions for short-term leases and leases of low-value items. Lessor accounting
remains similar to the current standard- i.e. lessors continue to classify leases as finance or operating leases. The
standard is effective for annual periods beginning on or after 1 January 2019, but also with permission for early adoption.
The Group has applied the exemption for short-term leases and booked its rental payments as expenses in profit or loss
given that the enforceable period of all its current contracts are cancellable in the short-term and has no purchase option.
3.3 Capital work-in-progress

Capital work- in- progress represents the cost incurred for acquisition and construction of items of property, plant and
equipment that were not ready for use at the end of 30 June 2020 and these were stated at cost. In case of imported
components, capital work- in- progress is recognised when risks and rewards associated with such assets are transferred
to the Group, i.e. at the time shipment is confirmed by the supplier.
3.4 Impairment of assets

If the recoverable amount of an asset is less than its carrying amount, the carrying amount of the asset is reduced to its
recoverable amount. That reduction is an impairment loss. An impairment loss on a non-revalued asset is recognised in
profit or loss. However, an impairment loss on a revalued asset is recognised in other comprehensive income to the
extent that the impairment loss does not exceed the amount in the revaluation surplus for that same asset. Such
an impairment loss on a revalued asset reduces the revaluation surplus for that asset.
The Group assesses at the end of each reporting period whether there is any indication that an asset may be impaired. If
any such indication exists, the Group estimates the recoverable amount of the asset.
3.5 Financial instruments
3.5.1 Financial assets

All financial assets that are within the scope of IFRS 9 are required to be measured at amortised cost or fair value, with
movements through other comprehensive income or the income statement on the basis of the Group’s business model
for managing the financial assets and the contractual cash flow characteristics of the financial assets.
Investment in shares
The Group has elected to designate equity investments as measured at Fair Value through Other Comprehensive Income
(FVTOCI). They are initially recorded at fair value plus transaction costs and then remeasured at subsequent reporting
dates to fair value. Unrealised gains and losses are recognised in other comprehensive income. On disposal of the equity
investment, gains and losses that have been deferred in other comprehensive income are transferred directly to retained
earnings.
Dividends on equity investments and distributions from funds are recognised in the income statement when the Group’s
right to receive payment is established.

Investment in fixed deposit receipt
Fixed deposit, comprising funds held with banks and other financial institutions, are initially measured at fair value, plus
direct transaction costs, and are subsequently measured at amortized cost using the effective interest method at each
reporting date. Changes in carrying value are recognised in profit.
Trade receivables
Trade receivables are measured in accordance with the business model under which each portfolio of trade receivable is
held. The Group has a portfolio of trade receivables that is being managed within a business model whose objective is to
collect contractual cash flows, and are measured at amortised cost. Trade receivables measured at amortised cost are
carried at the original invoice amount less allowance for expected credit losses.
Expected credit losses are calculated in accordance with the simplified approach permitted by IFRS 9, using a provision
matrix applying lifetime historical credit loss experience to the trade receivables. The expected credit loss rate varies
depending on whether and the extent to which settlement of the trade receivables is overdue and it is also adjusted as
appropriate to reflect current economic conditions and estimates of future conditions. For the purpose of determining
credit loss rates, customers are classified into groupings that have similar loss patterns. The key drivers of the loss rate
are the nature of the business unit and the location and type of customer.
When a trade receivable is determined to have no reasonable expectation of recovery it is written off, firstly against any
expected credit loss allowance available and then to the income statement. Subsequent recoveries of amounts previously
provided for or written off are credited to the income statement.
Cash and cash equivalents

Cash and cash equivalents comprise cash in hand, balances with banks and financial institutions, and highly liquid
investments with maturities of three months or less when acquired. They are readily convertible into known amounts of
cash and are held at amortised cost under the hold to collect classification, where they meet the hold to collect “solely
payments of principals and interests” test criteria under IFRS 9. Those not meeting these criteria are held at fair value
through profit and loss.
3.5.2 Financial liabilities
Borrowings
All borrowings are initially recorded at the amount of proceeds received, net of transaction costs. Borrowings are
subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the
amount due on redemption being recognised as a charge to the income statement over the period of the relevant
borrowing.
Trade payables
Trade payables are recognised initially at fair value. Subsequent to initial recognition they are measured at amortised cost
using the effective interest method.
3.5.3 Impairment of financial assets

IFRS 9 requires an expected credit loss (ECL) model to be applied to financial assets rather than the incurred credit loss
model required under IAS 39. The expected credit loss model requires the Group to account for expected losses as a
result of credit risk on initial recognition of financial assets and to recognise changes in those expected credit losses at
each reporting date. The Group recognises a loss allowance on trade receivables based on lifetime expected credit
losses.
3.6 Inventories
Measurement
Inventories are measured at the lower of cost and net realizable value except for goods in transit which are valued at cost.
Cost of inventories
The costs of inventories are comprised of all costs of purchase, costs of conversion and other costs incurred in bringing
the inventories to their present location and condition. Cost of active materials, raw materials and packing materials is
assigned by using the first-in, first-out (FIFO) cost formula. Cost of work-in-progress and finished stocks are determined
by using FIFO cost formula including allocation of manufacturing overheads related to bringing the inventories to their
present condition. The Group uses standard cost method for measurement of cost of finished goods.
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Recognition as an expense
When inventories are sold, the carrying amount of those inventories is recognised as an expense in the period in which
the related revenue is recognised. The amount of any write-down of inventories to net realisable value and all losses of
inventories is recognised as an expense in the period the write-down or loss occurs. The amount of any reversal of any
write-down of inventories, arising from an increase in net realisable value, is recognised as a reduction in the amount of
inventories recognised as an expense in the period in which the reversal occurs.
Recognition
A provision is recognised when the Group has a present obligation (legal or constructive) as a result of a past event; it is
probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and a reliable
estimate can be made of the amount of the obligation. If these conditions are not met, no provision is recognised. Accruals
are liabilities to pay for goods or services that have been received or supplied but have not been paid, invoiced or formally
agreed with the supplier, including amount due to employees.
The Group does not recognise a contingent liability. A contingent liability is disclosed; unless the possibility of an outflow
of resources embodying economic benefits is remote. The Group does not recognise a contingent asset. Contingent
assets usually arise from unplanned or other unexpected events that give rise to the possibility of an inflow of economic
benefits to the Group.
Measurement of provisions
The amount recognised as a provision is the best estimate of the expenditure required to settle the present obligation at
the end of the reporting period.
Changes and use of provisions

Provisions is reviewed at the end of each reporting period and adjusted to reflect the current best estimate. If it is no
longer probable that an outflow of resources embodying economic benefits will be required to settle the obligation, the
provision is reversed.
3.8 Post-employment benefits
Defined contribution plan

The Group operates a recognised provident fund scheme. The provident fund is being considered as defined contribution
plan and managed by a Board of Trustees. The employees contribute 8.33% up to 5 years and over 5 years 10% of basic
salary with equal contribution by the Group.
Defined benefit plan

The Group had operated an unfunded gratuity plan till 29 December 2015 and thereafter, effective from 30 December
2015, the scheme has been converted to a funded one. The fund is managed by a Board of Trustees. Actuarial valuation
of the fund is carried out at 30 June 2020 by a professional actuary.
Group insurance scheme

The Group operates a group insurance scheme for its permanent employees.
Worker’s participation and welfare fund

The Group has created a workers’ participation and welfare fund in compliance with “The Bangladesh Labour Act, 2006”
(as amended in 2013) and 5% of profit before charging such expenses is transferred to this fund.
3.9 Borrowing cost

The Group capitalises borrowing costs that are directly attributable to the acquisition, construction or production of a
qualifying asset as part of the cost of that asset. The Group recognises other borrowing costs as an expense in the period
in which it incurs them.
3.10 Reporting foreign currency transactions
Initial recognition
A foreign currency transaction is recorded, on initial recognition in the functional currency, by applying to the foreign
currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the
transaction.

Subsequent measurement
A foreign currency transaction may give rise to assets or liabilities that are denominated in a foreign currency. These
assets and liabilities are translated into the Group’s functional currency at each reporting date. Foreign currency monetary
items outstanding at the end of the reporting date are translated using the closing rate. The difference between this
amount and the previous carrying amount in functional currency is an exchange gain or loss. Exchange differences
arising on the settlement of monetary items or on translating monetary items at rates different from those at which they
were translated on initial recognition during the period or in previous financial statements is recognised in profit or loss in
the period in which they arise.
3.11 Revenue recognition

The Group receives revenue for supply of goods to external customers against orders received. The majority of contracts
that the Group enters into relate to sales orders containing single performance obligations for the delivery of
pharmaceutical, animal health and consumer healthcare products.
Product revenue is recognised when control of the goods is passed to the customer. The point at which control passes is
determined by each customer arrangement, but generally occurs on delivery to the customer. Value added tax and other
sales taxes are excluded from revenue.
Product revenue represents net invoice value including fixed and variable consideration. Variable consideration arises on
the sale of goods as a result of discounts and allowances given and accruals for estimated future returns and rebates.
Revenue is not recognised in full until it is highly probable that a significant reversal in the amount of cumulative revenue
recognised will not occur.
The methodology and assumptions used to estimate rebates and returns are monitored and adjusted regularly in the light
of contractual and legal obligations, historical trends, past experience and projected market conditions. Once the
uncertainty associated with the returns and rebates is resolved, revenue is adjusted accordingly. The scheme has been
recognized as per 5 step model of IFRS-15 “Revenue from contract with customers”.
3.12 Taxation
The tax expense for the period comprises current tax and deferred tax. Tax is recognised in the income statement, except
in the case it relates to items recognised in other comprehensive income or directly in equity. In this case, the tax is also
recognised in other comprehensive income or directly in equity.
Current tax
The current income tax charge is calculated based on tax laws enacted or substantively enacted at the balance sheet
date. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax
regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be
paid to the tax authorities.
Deferred tax
Principle of recognition
Deferred tax is recognised as income or an expense amount within the tax charge, and included in the net profit or loss
for the period. Deferred tax relating to items dealt with as other comprehensive income is recognised as tax relating to
other comprehensive income within the statement of profit or loss and other comprehensive income.
Deferred tax relating to items dealt with directly in equity (such as the correction of an error or retrospective application of
a change in accounting policy) is recognised directly in equity.
Taxable temporary difference

A deferred tax liability is recognised for all taxable differences, except to the extent that the deferred tax liability arises
from the initial recognition of goodwill; or the initial recognition of an asset or liability in a transaction which is not a
business combination; and at the time of the transaction, affects neither accounting profit nor taxable profit (tax loss).
Deductible temporary difference

A deferred tax asset is recognised for all deductible temporary differences to the extent that it is probable that taxable
profit will be available against which the deductible temporary difference can be utilised, unless the deferred tax asset
arises from the initial recognition of an asset or liability in a transaction that is not a business combination; and at the time
of the transaction, affects neither accounting profit nor taxable profit (tax loss).
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Measurement
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset
is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by
the end of the reporting period.
3.13 Earnings per share [EPS]
Basic EPS
The Group calculates basic earnings per share amounts for profit or loss attributable to ordinary equity holders of the
parent entity. Basic earnings per share is calculated by dividing profit or loss attributable to ordinary equity holders of the
parent entity (the numerator) by the weighted average number of ordinary shares outstanding (the denominator) during
the period.
The Group presents basic earnings per share in the statement of profit or loss and other comprehensive income. The
Group presents basic earnings per share with equal prominence for all periods presented. The Group presents basic
earnings per share, even if the amounts are negative (i.e. a loss per share).

Statement of cash flows has been prepared in accordance with the International Accounting Standard IAS-7, 'Statement
of Cash Flows' under direct method. Cash comprises cash on hand and demand deposits. Cash equivalents are
short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an
insignificant risk of changes in value. The Group has presented the effect of exchange rate changes on cash and cash
equivalents due to currency translation in the Statement of cash flow in accordance with IAS-7.
3.15 Operating segments

As there is a single business and geographic segment within which the Group operates, no segment reporting is felt
necessary.
3.16 Related party disclosures

Relationship between a parent and its subsidiaries is disclosed irrespective of whether there have been transactions
between them. The Group discloses key management personnel compensation. The Group discloses the nature of the
related party relationship as well as information about those transactions and outstanding balances, including
commitments, necessary for users to understand the potential effect of the relationship on the financial statements. The
Group complies with IAS-24 “Related party disclosures” regarding these disclosures. The group has taken approval from
its Board of Directors for the related parties, transactions.
3.17 Events after the reporting period

Events after the reporting period are those events, favorable and unfavorable, that occur between the end of the reporting
period and the date when the financial statements are authorized for issue. Two types of events can be identified:
adjusting events: those that provide evidence of conditions that existed at the end of the reporting period and
non-adjusting events: those that are indicative of conditions that arose after the reporting period.
3.18 Financial risk management

The Group’s activities expose it to a variety of financial risks and those activities involve the analysis, evaluation,
acceptance and management of some degree of risk or combination of risks. Taking risk is core to the financial business,
and operational risks are an inevitable consequence of being in business. The Group’s aim is therefore to achieve an
appropriate balance between risk and return and minimize potential adverse effects on the Group’s financial
performance. The Group’s risk management policies are designed to identify and analyze these risks, to set appropriate
risk limits and controls, and to monitor the risks and adherence to limits by means of reliable and up-to-date information
systems. The Group regularly reviews its risk management policies and systems to reflect changes in markets, products
and emerging best practices.
Credit risk
Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract,
leading to a financial loss. The senior management of the Group carefully manages its exposure to credit risk. Credit
exposures arise principally in receivables from customers into the Group’s asset portfolio. The credit risk management
and control are controlled through the credit policies of the Group which are updated regularly. The Group is also exposed
to other credit risks arising from balances with banks which are controlled through board approved counterparty limits.

Liquidity risk
Liquidity risk is defined as the risk that the Group will not be able to settle or meet its obligations on time or at a reasonable
price.
The Group’s approach toward managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity
to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or
risking damage to the Group’s reputation. Typically, management ensures that it has sufficient cash and cash equivalents
to meet expected operational expenses, including the servicing of financial obligations through preparation of the cash
forecast prepared based on time line of payment of the financial obligations and accordingly arrange for sufficient
liquidity/fund to make the expected payments within due date.
Market risk
The Group takes on exposure to market risks, which is the risk that the fair value or future cash flows of a financial
instrument will fluctuate because of changes in market prices. Market risks arise from open positions in interest rate and
currency, all of which are exposed to general and specific market movements and changes in the level of volatility of
market rates or prices such as interest rates, credit spreads and foreign exchange rates.
a) Currency risk
The Group is exposed to currency risk on certain receivables and payables such as receivables from foreign customers
and payables for import of raw materials, machinery and equipment. The majority of the Group’s foreign currency
transactions is denominated in US Dollar and relates to procurement of raw materials, machinery and equipment from
abroad.
b) Interest rate risk

Interest rate risk is the risk that the fair value or the future cash flows of a financial instrument will fluctuate because of
changes in market interest rates. The Group takes on exposure to the effects of fluctuations in the prevailing levels of
market interest rates on both its fair value and cash flow risks. Interest margins may increase as a result of such changes
but may reduce losses in the event that unexpected movements arise.
3.19 Impact of COVID-19

On 11 March 2020 the World Health Organization (WHO) declared a global pandemic due to Corona Virus related
respiratory disease, commonly known as COVID-19. To contain the spread of this disease, along with many other
countries of the world, the Government of Bangladesh has also taken a number of measures such as declaration of
general holiday, enforcement of lock down, social distancing, etc. As a result of these measures, all business and
economic activities in the country have been adversely affected and this has also affected the Group. Although the
business operation and profitability of the Group have been impacted by COVID-19, but due to the constantly changing
nature of the situation and lack of certainty at present regarding how long this situation will prevail, the potential impact of
COVID-19 related matters on the Group’s operation and financial results cannot be reasonably assessed. The
Management of the Group assessed the going concern and found no uncertainty regarding this for the upcoming 12
months due to COVID-19. Assessment of COVID-19 in relation to the following areas and the conclusion reached thereof
is given below.
Revenue
The principal activities of the Group are manufacturing, marketing and distribution of pharmaceutical, animal health
products, oncology-based products, agro-based products, poultry products, consumer products and so on. Although
lockdown and restriction in movements imposed due to COVID-19 has affected sales of the Group in the last quarter of
2019-2020, the Group has managed to recover in the subsequent quarter.
Inventories
Inventory includes materials, work-in-process, stock in transit and finished goods. Disruption in raw material supply,
exchange rate fluctuation and increase in other production costs have impacted inventory value. The Group has
assessed inventory as per IAS-2 and reported it correctly at the lower of cost and net realizable value.
Trade receivables
The Group has assessed collectability of trade receivables and has kept sufficient provision as required. Increase in
receivable balance is due to increase in turnover of the Group in the normal course of business.
Others
Management of the Group has assessed other areas of operations and found no significant impact of COVID-19 thereon.
•165
3.20 Auditors of Subsidiaries
Name of the Company Relationship Name of the Auditors
K. M. Hasan & Co.

Renata Agro Industries Limited Subsidiary
K. M. Hasan & Co.

Purnava Limited Subsidiary
Exempted from Audit

Renata (UK) Limited Subsidiary (As per section 477 of Companies
Act 2006 of UK)
Renata Pharmaceuticals Exempted from Audit

(Ireland) Limited Subsidiary (As per section 360 of Companies
Act 2014 of Ireland)
4. Director’s responsibilities statement

The Board of Directors is responsible for the preparation and presentation of the consolidated financial
statements.

5. Property, plant and equipment Amount in Taka
Cost / Revaluation Depreciation

Written
Disposal / Balance Disposal / Balance down value
Particulars Balance Addition Balance Charge as at
adjustment as at Rate adjustment as at
as at during as at for the 30 June
during 30 June % during 30 June
1 July 2019 the year 1 July 2019 year 2020
the year 2020 the year 2020
Freehold land
At cost 1,292,290,469 357,725,141 - 1,650,015,610 - - - - 1,650,015,610
On revaluation 179,132,078 - - 179,132,078 - - - - 179,132,078
1,471,422,547 357,725,141 - 1,829,147,688 - - - - 1,829,147,688
Buildings
At cost 3,737,413,252 585,208,065 - 4,322,621,317 1.54-5 818,665,457 132,626,501 - 951,291,958 3,371,329,359
On revaluation 41,291,251 - - 41,291,251 1.54-5 14,648,386 635,885 - 15,284,271 26,006,980
3,778,704,503 585,208,065 - 4,363,912,568 833,313,843 133,262,386 - 966,576,229 3,397,336,339
Plant and machinery 9,114,686,627 1,042,203,826 - 10,156,890,453 5-20 3,465,718,596 623,820,513 - 4,089,539,109 6,067,351,344
Automobiles 517,368,939 108,429,253 39,728,235 586,069,957 25 344,963,250 83,355,071 38,606,579 389,711,742 196,358,215
Office equipment 852,970,974 54,765,786 - 907,736,760 10 -12.5 311,767,045 92,876,682 - 404,643,727 503,093,033
Furnitures and fixtures 180,233,492 119,964,362 - 300,197,854 10 93,270,318 21,474,920 - 114,745,238 185,452,616
Total 30 June 2020 15,915,387,082 2,268,296,433 39,728,235 18,143,955,280 5,049,033,052 954,789,572 38,606,579 5,965,216,045 12,178,739,235
Total 30 June 2019 14,415,934,536 1,520,077,761 20,625,215 15,915,387,082 4,213,343,418 851,623,047 15,933,413 5,049,033,052 10,866,354,030
Amount in Taka
6. Capital work- in-progress
30 June 2020 30 June 2019
Opening balance 1,705,298,103 1,376,630,382

Addition during the year 1,944,811,896 1,440,929,979
3,650,109,999 2,817,560,361
Capitalized as property, plant and equipment 1,629,377,188 1,112,262,258
2,020,732,811 1,705,298,103
7. Long term investment
Investment in Govt. savings certificates - 650,000

Investment in Govt. bonds 10,000,000 10,286,180
10,000,000 10,936,180
•167
8. Inventories Amount in Taka
Finished goods 30 June 2020 30 June 2019
- Pharmaceutical 470,647,908 302,270,610

- Animal health 499,232,619 471,852,094
- Contract manufacturing 222,869,490 66,530,007
- Potent product facility 59,929,124 37,850,392
- Cepha facility 256,294,095 116,846,881
- Penicillin facility 50,129,354 71,839,900
Purnava Limited 45,907,542 19,786,407
Renata Agro Industries Limited 38,128,464 89,418,211
Renata Oncology Limited - 10,356,340
1,643,138,596 1,186,750,842
Work-in-process 357,440,077 307,184,878
Raw materials 414,677,946 439,012,999
Bulk materials 1,427,953,205 1,301,015,301
Consumable stores, spares and reagent materials 214,208,086 148,548,661
Stock in transit 773,813,230 530,357,501
5,323,552,135 4,478,376,048
Provision for obsolete inventories (83,641,974) (140,948,212)
5,239,910,161 4,337,427,836
9. Trade and other receivables
Trade receivables
2,736,334,613 2,392,271,023
Trade receivables- unsecured (101,872,915) (93,041,721)
Allowances for doubtful receivables 2,634,461,698 2,299,229,302
Other receivables
204,949,522 218,834,412
Sundry receivables - unsecured but considered good 311,079,125 237,958,072
Value Added Tax (VAT) recoverable (1,918,825) (1,918,825)
Allowances for doubtful receivables 514,109,822 454,873,659
3,148,571,520 2,754,102,961
10. Advances, deposits and prepayments
Advances
Advance to employees for motorcycle 125,856,078 108,535,665
Advance to employees for scooter 34,500 217,500
Loan to employees against salary 49,013,224 49,147,221
Advance for house rent 6,102,975 11,384,978
Advance VAT 63,261,137 92,824,386
Advance for inventory 100,554,952 62,385,231
Advance to staff against expenses (other than petty cash) 98,173,645 34,715,131
Advance against expenses 29,539,193 35,108,174
Other advances 22,930,729 18,680,441
495,466,433 412,998,727

Amount in Taka
30 June 2020 30 June 2019

Deposits
Tender deposits 22,937,709 13,838,293
Mymensingh Palli Bidyut Samity 12,256,000 12,256,000
Gazipur Palli Bidyut Samity 14,248,000 14,248,000
Dhaka Electric Supply Co. (DESCO) Limited 2,310,000 2,310,000
Linde Bangladesh Limited 1,088,000 1,088,000
Bangladesh Ansar O Gram Protirokkha Bahini (Bangladesh Ansar and VDP) 536,461 536,461
Titas Gas Transmission and Distribution Co. Limited 5,783,100 5,783,100
Radisson Water Garden Hotel 200,000 200,000
Meghna Model Service Center 110,000 110,000
Bangladesh Customs House, Dhaka Airport 200,000 200,000
Bangladesh Power Development Board, Bogura 232,534 232,534
Bangladesh Power Development Board, Sylhet 90,000 90,000
Bangladesh Power Development Board, Faridpur - 75,000
Essence Industrial Gases Limited 135,000 30,000
Sundarban Industrial Complex Limited 79,865 -
HammerHead Bangladesh Limited 16,000 16,000
Bangladesh Petroleum Exploration & Production Co. Limited 7,000 7,000
Dhaka Medical College & Hospital 1,540 1,540
60,231,209 51,021,928
Prepayments
7,942,620 4,995,610
563,640,262 469,016,265
(a) All advances, deposits and prepayments are considered regular and
recoverable in the normal course of business.
(b) The maximum amount due from officers (Managers and above) against
salary during the year was Tk. 21,318,424.
(c) No amount was due from the Directors, Managing agent, Managers and
other officers of the Company and any of them severally or jointly with
any other person except as stated in (b) above.
11. Investment in shares and FDR
Investment in shares (Note-11.1) 110,857,529 156,002,759

Investment in FDR (Note-11.2) 4,696,061,526 3,526,731,835
4,806,919,055 3,682,734,594
•169
Amount in Taka
Market value Cost

30 June 2020 30 June 2019 30 June 2020
Square Pharma Limited 71,655,120 102,461,703 45,296,504

British American Tobacco Bangladesh Company Limited 10,000,844 15,075,094 3,376,292
Beximco Pharmaceuticals Limited 6,920,000 8,350,000 11,365,280
Shahjibazar Power Co. Ltd. 6,467,472 7,397,460 10,885,833
Grameenphone Limited 9,552,000 14,588,000 14,948,644
ACI Formulations Limited 1,653,000 2,286,000 3,242,427
Bata Shoe Company (Bangladesh) Limited 1,386,400 2,081,800 264,501
Central Depository Bangladesh Limited (unquoted) 1,569,450 1,569,450 1,569,450
Investment Corporation of Bangladesh 349,182 543,461 1,066,263
United Finance Limited 480,650 730,588 578,923
United Commercial Bank Limited 243,723 356,210 2,600,218
Marico Bangladesh Limited 579,688 562,993 428,334
110,857,529 156,002,759 95,622,669
30 June 2020 30 June 2019

11.2 Investment in FDR
Delta Brac Housing Finance Corporation Ltd. 665,849,838 820,470,622

IDLC Finance Limited 1,677,783,856 1,100,000,000
IPDC Finance Limited 1,948,938,831 1,213,698,212
Commercial Bank of Ceylon PLC (foreign currency (USD) FDR) 353,489,001 342,563,001
4,696,061,526 3,526,731,835
12. Cash and cash equivalents
Cash in hand 6,189,281 4,960,490

Cash at bank
Standard Chartered Bank 287,909,802 211,662,108
Bank Asia Limited 348,867,770 55,748,825
Commercial Bank of Ceylon PLC 56,380,178 140,398,765
Sonali Bank Limited 17,402,972 35,248,692
Citibank N. A. 32,940,926 15,527,098
Agrani Bank Limited 18,436,441 18,484,390
The City Bank Limited 9,850,116 30,202,732
BRAC Bank Limited 304,482,083 23,726,437
Islami Bank Bangladesh Limited 2,535,032 10,162,555
Dutch Bangla Bank Limited 316,886 2,772,886
Pubali Bank Limited 109,931 4,217,769
Bangladesh Commerce Bank Limited 93,084 96,274
Janata Bank Limited 73,954 798,322
The Hongkong and Shanghai Banking Corporation Limited - 2,859,342
United Commercial Bank Limited - 676,528
Prime Bank Limited - 90,397
1,408,866,191 843,861,651
Balance with City Bank Capital Resources Limited 1,976,157 851,289

Balance with ICB Securities Trading Company Limited 233,324 233,774
2,209,481 1,085,063
1,417,264,953 849,907,204

13. Share capital
Authorized share capital

250,000,000 ordinary shares of Tk.10 each 2,500,000,000 1,000,000,000
Issued, subscribed and paid up capital
1,294,260 ordinary shares of Tk.10 each issued for cash 12,942,600 12,942,600
1,724,490 ordinary shares of Tk.10 each issued for consideration other than cash 17,244,900 17,244,900
85,570,492 ordinary shares (77,516,925 ordinary shares
as at 30 June 2019) of Tk.10 each issued as bonus shares 855,704,920 775,169,250
885,892,420 805,356,750
As at 30 June 2020, the shareholding position of the Company was as follows:
Nationality / Number of Face value % of total

Name of the shareholders
incorporated in shares Taka shareholdings
Sajida Foundation Bangladesh 45,180,129 451,801,290 51.00%
Business Research International Corp. Inc. Panama 19,262,801 192,628,010 21.74%
ICB Unit Fund Bangladesh 5,014,469 50,144,690 5.66%
Shadharan Bima Corporation Bangladesh 3,875,754 38,757,540 4.38%
Investment Corporation of Bangladesh Bangladesh 2,366,936 23,669,360 2.67%
Other shareholders Bangladesh & others 12,889,153 128,891,530 14.55%
88,589,242 885,892,420 100%
Classification of shareholders by holdings:
30 June 2020
Holdings No. of No. of No. of No. of % of
shareholders shareholders total total total
as per folio as per BOID shareholders shareholdings shareholdings
Less than 500 shares 100 3,502 3,602 381,030 0.4%

501 to 5000 shares 45 841 886 1,400,885 1.6%
5,001 to 10,000 shares 13 99 112 781,366 0.9%
10,001 to 20,000 shares 12 68 80 1,211,873 1.4%
20,001 to 30,000 shares 10 16 26 657,905 0.7%
30,001 to 40,000 shares 2 10 12 435,498 0.5%
40,001 to 50,000 shares - 9 9 418,704 0.5%
50,001 to 100,000 shares 2 24 26 1,825,107 2.1%
100,001 to 1,000,000 shares 1 20 21 5,791,669 6.5%
Over 1,000,000 shares 2 4 6 75,685,205 85.4%
187 4,593 4,780 88,589,242 100%
•171
Amount in Taka
14. Revaluation surplus
30 June 2020 30 June 2019
Land 179,132,078 179,132,078

Buildings 26,642,865 27,278,749
205,774,943 206,410,827
Less: Depreciation adjustment on revalued buildings (635,885) (635,885)
205,139,058 205,774,942
Less: Adjustment of deferred tax on revaluation surplus (51,284,762) (51,443,734)
153,854,296 154,331,208
14.a Other reserves
The deficit amount of Tk. 43,065,180 of the net assets of Renata Oncology Limited over the net assets value
of the shares settled in consideration of cash by Renata Limited have been transferred and debited to “Other
reserves” in the books of Renata Limited pursuant to the Scheme of Amalgamation. This is the retained loss of
Tk 43,066,180 of Renata Oncology Limited net of consideration of share value of Tk. 1,000 (100 shares @
face value of Tk. 10 each) of the minority shareholder.
15. Fair value reserve
Opening balance 54,338,060 56,743,224

Fair value adjustment on investment in shares, net of tax (40,628,585) (2,405,164)
Transfer between reserves- realised loss on disposal of shares - 112,598
13,709,475 54,338,060
16. Retained earnings
Opening balance 17,535,319,640 14,549,628,623

Stock dividend issued @ 10% for FY 2018-2019 (80,535,670) (105,046,529)
Final dividend (Cash dividend @100% for FY 2018-2019) (805,356,750) (665,294,710)
Depreciation adjustment on revalued assets 635,885 635,885
Transfer to Other reserves due to merger of Renata Oncology Limited 43,065,180 -
Adjustment of non-controlling interests due to merger of Renata Oncology Limited 454 -
Settlement in consideration of cash paid due to merger of Renata Oncology Limited (454) -
Transfer between reserves- realised loss on disposal of shares - (112,598)
20,705,254,771 17,535,319,640
17. Non-controlling interests
Share capital 5,200 6,200

Retained earnings and reserve (including tax holiday reserve) 43,603 57,904
48,803 64,104
18. Deferred tax liabilities
Opening balance 1,343,870,038 1,244,684,960

1,446,845,163 1,343,870,038

Amount in Taka
Taxable/
Deferred tax
Carrying (deductible)
Tax base liabilities/
amount temporary
(assets)
difference


Charged to fair value reserve (OCI) (4,514,475)
Adjustment for reduction of revaluation surplus due to (158,972)
charges of extra depreciation
102,975,125

Amount in Taka
Taxable/
Deferred tax
Carrying (deductible)
Tax base liabilities/
amount temporary
(assets)
difference


Charged to fair value reserve (OCI) (267,266)
Adjustment for reduction of revaluation surplus (158,972)
due to charges of extra depreciation
99,185,078
•173
Amount in Taka
19. Short term bank loan and overdrafts

30 June 2020 30 June 2019
Eastern Bank Limited (Note-19.1) 37,623,723 52,269,803

The City Bank Limited (Note-19.2) 260,460,000 238,979,895
Standard Chartered Bank (Note-19.3) 834,648,149 1,076,367,260
Citibank N. A. (Note-19.4) 411,934,856 539,592,529
Bank Asia Limited (Note-19.5) 183,643,469 95,412,837
Commercial Bank of Ceylon PLC (Note-19.6) 1,252,411,185 559,984,391
United Commercial Bank Limited 415,693 -
2,981,137,076 2,562,606,715
The terms and conditions of the facility available for Overdraft, Acceptance, LATR, Revolving, Import and Demand loan
are as follows:
19.1 Eastern Bank Limited
Overdraft
Purpose : To finance overhead cost and duty payment.

Letter of credit/ Acceptance (Sight/Usance)/ Import finance
Purpose : To import plant and machinery and raw materials.

Facility limit : Combined Tk. 510 million.
Security
iii) Registered hypothecation by way of pari-passu with RJSC on entire inventory book debts and other
floating assets and plant and machinery of the Company in favor of Eastern Bank Limited.

19.2 The City Bank Limited
Letter of credit/ Acceptance (Sight/Usance)/ Import finance/ Short term loan
Purpose : To import API, excipient, packing and finished materials, to retire sight letter of credit documents
opened for procurement of API, excipient, packing and finished materials, and for payment of duty
and other charges related to import and VAT.
Overdraft
Purpose : To meet the day to day operating, promotional, and marketing expenses.
Security
i) First charge over all present and future inventories and trade receivable of
Renata Limited under pari-passu security sharing agreement.
ii) First charge over all present and future plant and machinery of Renata Limited with RJSC on
pari-passu security sharing basis with the existing lenders.
19.3 Standard Chartered Bank
Letter of credit/ Loan against trust receipt (LATR)/ Acceptance
spares and other items required for regular course of business, for retirement of documents of
only sight letter of credits, and to provide acceptance against letter of credits issued by the bank.
Overdraft
Purpose : For working capital purposes.

Repayment : Overdraft to be cleaned up for 3 days in one year.
Security
•175
19.4 Citibank N. A.
Letter of credit/ Acceptance (Sight/Usance)/ Import finance
spares and other items required for regular course of business, and to refinance import letter of credits.
Short term loan
Purpose : To finance local purchase of active and raw materials, packing materials,
capital machinery, spares and other items required for regular course of business.
Overdraft
Purpose : To finance regular selling, general and administrative expenses.

Repayment : On demand.
Security
19.5 Bank Asia Limited
Revolving letter of credit
Purpose : To import raw materials, machineries and spare parts for the Company.
Revolving LATR
Purpose : Retirement of documents of only sight letter of credits.
Overdraft
Purpose : For payment of duty VAT, taxes and operating expenses.
Revolving demand loan

Purpose : For procurement of pharmaceuticals and packing materials from local sources.
Security

19.6 Commercial Bank of Ceylon PLC
Facility limit : Tk. 1,500 million.

Security
i) First charge over all present and future inventories and trade receivable of
Renata Limited under pari-passu security sharing agreement.
Amount in Taka
30 June 2020 30 June 2019

20. Trade payables
Payable to suppliers 508,963,636 570,003,352

Toll manufacturing charges (Sharif and NAFCO) 14,374,691 7,117,888
523,338,327 577,121,240
Aging of the above payables is given below:
Payables due below six months 501,434,785 549,223,207

Payables due over six months 21,903,542 27,898,033
523,338,327 577,121,240
21. Other payables
VAT and other payables 547,227,460 563,725,504

Advance from customers 537,525,993 5,296,645
Workers' participation fund (Note-21.1) 74,973,837 101,825,445
Provident fund 52,634,833 46,609,565
Unclaimed dividend (Note-21.2) 38,921,309 33,161,390
Export commission payable 29,159,816 6,896,754
Accrued interest 23,710,390 30,901,405
1,304,153,638 788,416,707
21.1 Workers' participation fund
Opening Balance 101,825,445 268,801,357

401,425,839 529,490,218
Transferred during the year (326,452,002) (427,664,773)
74,973,837 101,825,445
21.2 Unclaimed dividend
Unclaimed dividend upto 4 years 22,469,495 20,862,511

Unclaimed dividend above 4 years 16,451,814 12,298,879
38,921,309 33,161,390
•177
Amount in Taka
22. Provision for taxation

30 June 2020 30 June 2019
Opening balance 807,715,038 809,811,475

Provision made during the year 1,758,124,679 1,299,306,117
2,565,839,717 2,109,117,592
Payment made during the year (1,197,868,182) (1,301,402,554)
1,367,971,535 807,715,038
23. Turnover (Net)
Renata Limited 23,995,460,189 22,063,737,207

Purnava Limited 468,132,671 344,350,812
24,674,812,094 22,809,301,672
During the year, sale of pharmaceutical products includes export sales of Tk. 693,632,930
equivalent to US$ 7,789,681 (Tk. 466,830,128 equivalent to US$ 5,558,351 for the year ended 30 June 2019).
24. Cost of sales
Renata Limited 12,632,907,753 11,035,381,648

Purnava Limited 84,922,616 34,736,256
Renata Oncology Limited - 30,584,259
13,063,170,411 11,493,509,493

Amount in Taka
25. Administrative expenses 2019- 2020 2018-2019

Training expenses 3,317,524 881,700
Staff uniform 379,993 575,281
Rent 8,352,425 6,857,985
Depreciation 19,969,720 17,835,113
Software and hardware support services 19,536,929 28,608,045
Legal and professional expenses 538,955 310,978
Audit fees 1,133,750 913,125
Board meeting attendance fee 300,000 430,000
AGM expenses 367,804 1,985,560
Health and safety 85,826 -
Other expenses 25,332,257 22,628,743
477,649,117 452,714,870
26. Selling, marketing and distribution expenses
Salaries, wages and allowances 2,003,294,560 1,739,834,337

Training expenses 8,779,279 5,619,687
Staff uniform 2,089,805 2,020,198
Rent 23,372,914 26,022,898
Depreciation 153,101,160 141,910,371
Journal and advertisement 35,438,805 45,123,703
Free sample 126,038,969 123,476,126
Marketing and sales promotional expenses 371,223,133 1,216,872,976
Distribution expenses 471,899,408 424,689,528
Export expenses 42,666,942 41,670,320
Special discount 435,057,023 371,208,478
Health and safety 1,293,214 18,887,605
Other expenses 177,832,822 97,146,616
5,275,247,807 5,572,622,117
•179
27 Other income
Amount in Taka
2019- 2020 2018-2019
Dividend income 4,275,654 4,365,468

Interest income 514,764,662 257,905,805
Scrap sales and others 13,205,082 13,713,398
Gain/ (loss) on disposal of property, plant and equipment 14,210,844 3,272,756
546,456,242 279,257,427
28. Finance costs
Interest expenses 153,384,932 118,098,404

Exchange loss 57,250,283 19,319,555
Bank charges 17,078,806 17,184,073
227,714,021 154,602,032
29. Net asset value (NAV) per share
The computation of NAV is given below:
Equity attributable to the ordinary shareholders 21,762,283,455 18,595,983,331

Net asset value (NAV) per share 245.65 209.91
Last year's NAV has been adjusted due to issuance of bonus shares.
29.1 Weighted average number of ordinary shares outstanding during the year
Opening number of shares 80,535,675

Bonus shares issued in December 2019 8,053,567
88,589,242
30. Basic earnings per share (EPS)
The computation of EPS is given below:
Earnings attributable to the ordinary shareholders (net profit after tax for the year) 4,012,126,486 3,755,508,969
Basic earnings per share (EPS) 45.29 42.39
Last year's EPS has been adjusted as per the requirement of IAS 33 "Earnings Per Share".

Amount in Taka
30 June 2020 30 June 2019

31. Net cash flow from operating activities

Adjustments for:
Depreciation and amortization expenses 955,075,752 851,909,227
Provision for bad debts & others 8,831,194 22,042,677
Finance costs 227,714,021 154,602,032
(Gain)/ loss on disposal of property, plant and equipment (14,210,844) (3,272,756)
Income from investment (2,092,451) (4,371,934)
Cash generated from operations before working capital changes 7,053,204,258 6,175,330,972
Adjustments for:
(Increase)/ decrease in inventories (902,482,325) (410,752,103)
(Increase)/ decrease in trade and other receivables (403,434,944) (182,863,781)
(Increase)/ decrease in advances, deposits and prepayments (93,193,641) 36,368,063
Increase/ (decrease) in trade payables (53,782,912) 333,456,771
Increase/ (decrease) in other payables 517,168,025 (260,964,673)
Finance costs (232,595,600) (153,933,538)
Payment of tax (1,199,298,537) (1,305,668,672)
Net cash flow from operating activities 4,685,584,324 4,230,973,039
32. Net operating cash flow per share
The computation of net operating cash flow per share is given below:

Net operating cash flow per share 52.89 47.76
Last year's net operating cash flow per share has been
adjusted due to issuance of bonus shares.
•181
33. Payments to Directors and officers
The aggregate amount paid (except Directors' fees for attending board meetings)
during the year to Directors and officers of the Company is disclosed below Amount in Taka
as required by the Securities and Exchange Rules-1987:
Directors Officers
Short-term employee benefits
Remuneration 13,697,866 605,600,459
House rent 8,038,930 441,404,828
Bonus 5,707,445 253,884,100
Conveyance allowance and transport 3,372,835 179,702,363
Other welfare expenses 5,767,060 49,695,972
Post-employment benefits
Contribution to provident fund 1,369,787 59,318,408
Gratuity 1,712,233 89,142,267
39,666,156 1,678,748,397
33.1 During the year, no payment has been made to any non-executive Directors for any special services rendered.
34. Dividend paid to non-resident shareholders
Final dividend paid to non-resident shareholder, Business Research International Corp. Inc. for the year 2018-2019 was
Tk. 140,093,104 equivalent to US$ 1,632,786.76 for their 17,511,638 shares.
35. Contingent liabilities
35.1 There are contingent liabilities on account of unresolved disputed corporate income tax assessments involving tax
claims by the tax authority amounting to Tk. 3,555,060 for the assessment year 2000-01, Tk. 11,888,503 for the assess-
ment year 2013-14 and Tk. 14,478,424 for the assessment year 2014-2015 which are pending before the Hon'ble High
Court Division of the Supreme Court, and Tk. 33,196,071 for the assessment year 2018-2019 awaiting for appeal to be
filed by us with the Taxes Appellate Tribunal.
35.2 The Assistant Commissioner of Taxes issued a notice vide letter No. SA-162/2014-2015/82 on 01 September 2014
claiming that during the assessment year 2008-09 (income year 2007), the Company did not deduct VAT on certain
accounting heads amounting to Tk. 245,280,917 and tax file reopened accordingly under Section 93 of the Income Tax
Ordinance, 1984. Total tax amount was calculated Tk. 73,584,275 on that claimed amount by using the prevailing
corporate tax rate 30%. However, the Hon'ble High Court delivered the verdict in favour of the Company on 6 January
2016 but the National Board of Revenue has made leave to appeal to the Supreme Court Appellate Division against the
verdict.
36. Claims by the Company not acknowledged as receivable
None as at 30 June 2020.

37. Commitments
On the statement of financial position date, the Company is enjoying
unfunded credit facilities from the following banks: Amount in Taka
30 June 2020 June 30, 2019

Letters of credits (Note-37.1)
Outstanding guarantees issued by the banks 2,426,510,888 1,745,661,987
Capital expenditure commitments 220,823,176 666,110,566
7,912,299,499 7,691,345,783
10,559,633,563 10,103,118,336
37.1 Letters of credits

Limit 30 June 2020 June 30, 2019
Standard Chartered Bank 2,000,000,000 522,772,727 531,308,481
Eastern Bank Limited 500,000,000 149,819,885 4,744,793
The City Bank Limited 1,200,000,000 121,384,551 152,672,024
Citibank N. A. 1,595,180,000 625,966,947 190,372,485
Commercial Bank of Ceylon PLC 1,350,000,000 682,802,262 715,400,964
Bank Asia Limited 600,000,000 323,764,516 151,163,240
7,245,180,000 2,426,510,888 1,745,661,987
38. Disclosure as per requirement of Schedule-XI, Part-II of the Companies Act, 1994
38.1 Employee position of Renata Limited as per requirement of schedule XI, Part-II, Para-3
The company engaged 8,151 (7,324 as at 30 June 2019) employees as at 30 June 2020, of which 5,474 (4,999 as at
30 June 2019) is permanent employees and 2,677 (2,325 as at 30 June 2019) is casual and temporary workers as
required. All employees received total salary of above Tk. 36,000 per annum.
39. Payments / receipts in foreign currency
39.1 During the year, the following payments were made in foreign currency for imports, calculated on CIF basis of:
Foreign Local
currency currency
USD Taka
Active, raw and packing materials
Machinery and spares 86,402,601 7,307,821,577
15,558,900 1,324,549,186
101,961,501 8,632,370,763
39.2 Foreign exchange was earned in respect of the following:
USD
Export of goods on FOB 7,789,681
•183
40. General
1) All the figures in the financial statements represent Bangladesh Taka currency rounded off to the nearest Taka.
2) The comparative information have been disclosed in respect of the year 2019-2020 for all numerical information in
the financial statements and also the narrative and descriptive information as found relevant for understanding of the
current year's financial statements.
41. Events after the reporting period
Amount to be distributed as dividend
The Board of Directors in their meeting held on 26 October 2020 have recommended cash dividend @ 130% per
share of Taka 10 each aggregating Taka 1,151,660,146 and stock dividend @ 10% of Taka 10 each aggregating Taka
88,589,242 for the year ended 30 June 2020 subject to approval of the shareholders in the Annual General Meeting
scheduled to be held on 19 December 2020. The financial statements for the year ended 30 June 2020 do not
include the effects of the above cash dividend and stock dividend which will be accounted for in the period when
shareholders' right to receive the payment will be established. The declared dividend is also in compliance with
section 16G of Income Tax Ordinance 1984.
Other events
There are no other material events identified after the statement of financial position date which require adjustment or
disclosure in these financial statements.
Dhaka,
26 October 2020

CORPORATE HEADQUARTERS
Plot # 1, Milk Vita Road, Section-7, Mirpur, Dhaka-1216, Bangladesh
PABX: (880 -2) 800 1450-54, Fax: (880 -2) 800 1446
e-mail: [email protected], Website: www.renata-ltd.com
MANUFACTURING SITES
Plot # 1, Milk Vita Road, Section-7, Mirpur, Dhaka-1216, Bangladesh, PABX: (880 -2) 801 1012-13
Noyapara, Bhawal Mirzapur, Rajendrapur, Gazipur, Bangladesh, Tel: 06825-55148
Kashor, P.O.: Seed Store, P.S.: Bhaluka, Mymensingh, Bangladesh.
DISTRIBUTION CENTRES
Burigonga Depot Chattogram Depot Khulna Depot

Teghoria (Nuton Raster Moor), Prashanti Tower-3, 62, KDA, Commercial Area,
South Keranigonj, Dhaka-1311 Prashanti R/A Road, Colonel Hat, Jalil Swaroni, Rayer Mohol,
Mobile: 01847028891 Pahartali, Chattogram-4202 Boyra, Khulna
e-mail: [email protected] Phone: 02-43151450 Phone & Fax: 041-720154
Fax: 02-43151451 Mobile: 01817049382
Gazipur Depot Mobile: 01817049449 e-mail: [email protected]
E/214, Joorpukurpar e-mail: [email protected]
Joydebpur, Gazipur-1700 Jashore Depot
Mobile: 01817045729 Chokoria Depot Sarder Vila, Holding No-1021/B
e-mail: [email protected] Hospital Road, Chokoria-4740 Airport Road, Arabpur,
Phone & Fax: 034-2256251 Jashore-7400
Bhairab Depot Mobile: 01817041015 Phone : 0421-60851
808, Bhairabpur, e-mail: [email protected] Mobile: 01817049381
Bhairab-2350 e-mail: [email protected]
Phone & Fax: 02-9470265 Gomti Depot
Mobile: 01814651002 Holding No. 48/01 Ward No. 23, Rajshahi Depot
e-mail: [email protected] Batabaria, Sadar Dakhin, C-212, Laxmipur,
Cumilla-3500 Greater Road,
Turag Depot Mobile: 01817049452 Rajshahi-6000
House-39, Road-06 e-mail: [email protected] Phone : 0721-772893
Block-C, Turag Thana Road Mobile: 01817049459
Dhour, Turag, Dhaka-1230 Kirtonkhola Depot e-mail : [email protected]
Phone: 02-8981813 Amtola Moor, Band Road,
Fax: 02-8981898 Barishal-8200
Korotoa Depot
Mobile: 01833316984 Phone & Fax: 0431-71249
Betgari, Dhaka Road, Banani,
e-mail: [email protected] Mobile: 01817049375
Bogura-5800
e-mail: [email protected]
Phone & Fax: 051-66379
Tangail Depot Mobile: 01817049376
Holding No.1135, Biswas Betka, Feni Depot e-mail: [email protected]
Atpukurpar, Dhaka Road, Dhaka Chittagong Highway,
Tangail Sadar, Tangail-1900 Debipur, Fatepur, Shorshodi,
Rangpur Depot
Phone & Fax: 0921-61158 Feni-3902
Faizon Vila, Road-1,
Mobile: 01847-186614 Ling 3 No.: +88096877403
House-3, Karanipara,
e-mail: [email protected] Mobile: 01817049531
Rangpur-5400
Phone & Fax: 0521-62822
Brahmaputra Depot
Mobile: 01817049072
Bypass Mour, Dhaka Road, Madhumati Depot
Digarkanda, Mymensingh Abd Allah Jahir Uddin Lal Miah
Mobile: 01817049456 Sarak, Kuthibari-1, Kamlapur,
e-mail: [email protected] Faridpur Dinajpur Depot
Phone & Fax: 0631-62174 Amir Lodge, Block-08,
Mobile: 01817049370 House-36, Upshohor Housing
Surma Depot
e-mail: [email protected] More, Dinajpur-5200
Sylhet Sunamgonj By-pass Road,
Phone & Fax: 0531-66164
Lotipur, Dakshin Surma, Sylhet - 3100
Mobile: 01833-316987
Phone: 0821-718407
Mobile: 01817049367
•185
RENATA LIMITED Revenue
Stamp
of
PROXY FORM Taka 20.00
I/We, the undersigned, being a member of the above named Company hereby appoint
Mr./Ms.
Of (Address)
as my/our proxy to vote and act for me/us and on my/our behalf, at the 47th Annual General
Meeting of the Company, to be held through Digital Platform on Saturday, December 19, 2020 at
11.00 am and at any adjournment thereof.
Specimen Signature (s) of the Shareholder (s) Date:
Name in Block Letters
Address
Folio/BO No.
Date:
Signature of the Proxy
RENATA LIMITED
Shareholders’ Attendance Slip
I/We hereby record my/our attendance at the 47th Annual General Meeting being held on
Saturday, December 19, 2020 through Digital Platform at 11.00 am
Name of Shareholder(s)...............................................................................................................
Register Folio/BO No. .................................................................................................................
holding of ........................ Ordinary Shares of Renata Limited.
Signature (s) of Shareholder(s)
•187
Renata Limited
Corporate Headquarters: Plot # 1, Milk Vita Road, Section-7, Mirpur, Dhaka-1216, Bangladesh, GPO Box No. 303
Phone: 8001450, 8001454 (PABX), Fax: 880-2-8001446, Website: www.renata-ltd.com
Find us on at http://www.facebook.com/renatalimited

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2019-2020

Dear Sir/Madam (s)

Md. Jubayer Alam

October 26, 2020

By Order of the Board

(Md. Jubayer Alam)

4 Our Mission and Vision

41 Statement of Value Addition

42 Corporate Social Responsibility

Financial Statements of Renata Limited

69 Statement of Financial Position

70 Statement of Profit or Loss and Other Comprehensive Income

71 Statement of Changes in Equity

72 Cash Flow Statement

73 Notes to the Financial Statements

Report and Financial Statements of Renata Agro Industries Limited

104 Directors’ Report

105 Auditors’ Report

107 Statement of Financial Position

108 Statement of Profit or Loss and other Comprehensive Income

109 Statement of Changes in Equity

110 Cash Flow Statement

111 Notes to the Financial Statements

126 Directors’ Report

127 Auditors’ Report

129 Statement of Financial Position

130 Statement of Comprehensive Income

131 Statement of Changes in Equity

132 Cash Flow Statement

133 Notes to the Financial Statements

Renata (UK) Limited & Renata Pharmaceutical (Ireland) Limited

141 Renata (UK) Limited & Renata Pharmaceutical (Ireland) Limited

Consolidated Financial Statements of Renata Limited and its Subsidiaries

142 Auditors’ Report

185 Corporate Directory

187 Proxy Form

Marketing & Distribution Rights

Agrani Bank Limited

ACNABIN, Chartered Accountants

2 •renata annual report

The Corporate Family

4 •renata annual report

ICMAB BEST CORPORATE AWARD-2018 TAX PAYER AWARD AMONG

I am pleased note that our manufacturing facility for nutritional

8 •renata annual report

Kaiser Kabir, CEO & Managing Director

Sajeda Farisa Kabir, Director

12 •renata annual report

Tanya Tazeen Karim, Independent Director

Ejaj Ahmad, Independent Director

14 •renata annual report

THE AUDIT COMMITTEE

Director, Sales Pharma

Director, Animal Health

General Manager, Marketing Pharmaceutical

General Manager, International Regulatory Affairs

General Manager, Finance

General Manager, Vaccines & Specialty Care Business

General Manager, Projects